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Pandora Is Fleeing Two of the Three Countries Where It Operateshttp://www.slate.com/blogs/business_insider/2017/07/31/pandora_ends_business_in_new_zealand_and_australia.html
<p>Pandora announced that its internet radio service will&nbsp;be discontinued in Australia and New Zealand on Monday, leaving only its United States service in operation. </p>
<p>Pandora subscribers and free users who tried to log on to the service in Australia and New Zealand&nbsp;over the&nbsp;weekend were <a href="http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&amp;objectid=11896764">reportedly</a> warned of the shut down with the following message:</p>
<p>&quot;Dear Pandora listener, We will be shutting down the Pandora service in Australia and New Zealand on July 31st, 2017. After this date, you will no longer be able to access the Pandora app of website.&nbsp;We're honored to have connected so many listeners with the music they love these past few years. Thank you for your loyalty and the opportunity to serve you. Sincerely The Pandora Team.&quot;</p>
<p>Pandora launched its regional services in Australia and New Zealand in 2012. It has recently&nbsp;struggled financially, <a href="http://www.businessinsider.com/tim-westergren-pandora-ceo-steps-down-2017-6">lost its founder CEO</a>, and been unable&nbsp;to turn around its momentum&nbsp;despite launching its own on-demand streaming service, <a href="http://www.businessinsider.com/pandora-spotify-most-popular-music-streaming-service-chart-2017-3">Pandora Premium</a>, in March.</p>
<p>In June, Pandora also landed a <a href="http://www.businessinsider.com/pandora-480-million-investment-sirius-xm-sells-ticketfly-200-million-2017-6">$480 million investment</a> from Sirius XM, after it rejected an offer from Sirius to buy the company outright.</p>
<p>Pandora will now be available in the US only. Global <a href="https://www.pandora.com/legal">radio operation laws</a> have prevented Pandora from launching its radio service in any countries other than Australia, New Zealand, and the US in the past.</p>
<p>Pandora's stock dropped over 5 percent in trading early on Monday, following news of its Australia and New Zealand closures. </p>Mon, 31 Jul 2017 19:51:29 GMThttp://www.slate.com/blogs/business_insider/2017/07/31/pandora_ends_business_in_new_zealand_and_australia.htmlJohn Lynch2017-07-31T19:51:29ZBusinessPandora Is Fleeing Two of the Three Countries Where It Operates235170731001music streamingbusinessJohn LynchBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/31/pandora_ends_business_in_new_zealand_and_australia.htmlfalsefalsefalsePandora is fleeing two of the three countries where it operates.The company's stocks have also dropped dramatically.Jonathan Leibson/Getty Images for PandoraPandora Sounds Like You Summer.California Might Be Producing Too Much Legal Weedhttp://www.slate.com/blogs/business_insider/2017/07/28/california_might_be_growing_too_much_legal_weed.html
<p>California's marijuana producers are growing eight times the amount needed for consumption, according to a report by <a href="http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-california-producing-pot-surplus-1501101923-htmlstory.html">Patrick McGreevy at the <em>Los Angeles Times</em></a>.</p>
<p>Scaling back would be painful for growers, said Hezekiah Allen, the executive director of the California Growers Association, during a panel discussion at the Sacramento Press Club. The <em>Times</em> reported that a consultant in the audience estimated the pot glut at 12 times what's being consumed.</p>
<p>In 1996, California became the first U.S. state to permit medicinal marijuana. Its residents voted in November to legalize the possession of up to an ounce of marijuana for recreational use. But it now faces a glut ahead of new regulations that ban exports starting January 1.</p>
<p>A consequence of the glut, Allen added, is that some growers on the black market would most likely export their product to other states in violation of federal law.</p>
<p>Seven states including neighboring Nevada, Arkansas, and Massachusetts <a href="http://www.businessinsider.com/where-is-marijuana-legal-2016-11">legalized marijuana</a> in various forms on Election Day last year. In all, <a href="http://www.governing.com/gov-data/state-marijuana-laws-map-medical-recreational.html">29 U.S. states have legalized marijuana in some form</a>, according to&nbsp;Governing.com.</p>
<p><strong>&nbsp;</strong></p>Fri, 28 Jul 2017 17:26:59 GMThttp://www.slate.com/blogs/business_insider/2017/07/28/california_might_be_growing_too_much_legal_weed.htmlAkin Oyedele2017-07-28T17:26:59ZBusinessCalifornia Might Be Producing Too Much Legal Weed235170728001californialegalizing marijuanaAkin OyedeleBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/28/california_might_be_growing_too_much_legal_weed.htmlfalsefalsefalseCalifornia might be growing too much legal weed.Eight times too much!Ethan Miller/Getty ImagesAn employee lines up legalized cannabis products in Las Vegas, Nevada.&nbsp;Lyft Drivers Are Upset They May Be Asked to Take Riders to Taco Bellhttp://www.slate.com/blogs/business_insider/2017/07/27/lyft_drivers_aren_t_happy_about_taco_mode.html
<p><em>This <a href="http://www.businessinsider.com/lyfts-new-taco-bell-drive-thru-feature-is-infuriating-drivers-2017-7">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>When Taco Bell announced a&nbsp;service&nbsp;that <a href="http://www.businessinsider.com/taco-bell-lyft-partnership-for-drunk-customers-2017-7">allows Lyft users to push a button to have their driver take them to a Taco Bell drive-through,</a> most taco lovers' reaction was to celebrate. However, many Lyft drivers—who found out about the new service&nbsp;at the same time as the rest of the world—had a different response.</p>
<p>Drivers immediately called out Lyft on Twitter, questioning why&nbsp;drivers would want to take the time of going through a Taco Bell drive-thru without additional compensation. Typically, Lyft drivers are paid by the mile—meaning that they&nbsp;aren't&nbsp;earning any cash when cars are stopped at the drive-thru under the current system. And, that's not even getting into the potential messes that a car full of Doritos Locos tacos could create.</p>
<p>&quot;That Lyft might go ahead and do this—encourage riders to do something most drivers dislike doing—without offering drivers an incentive or otherwise communicating to us what the plan is is pretty bold,&quot; one Lyft driver told <em>Business Insider</em>.</p>
<p>&quot;This is Uber type behavior, and I don't think even Uber does stuff like this anymore,&quot; he continued. &quot;I wonder if it occurs to Taco Bell that drivers don't like going through the drive-through.&quot;</p>
<p>The same driver also emailed <em>Business Insider</em> a snarky, satiric corporate statement from &quot;Lyft,&quot; reading: &quot;A representative for the Los Angeles-based Southern California Rideshare Drivers Association said, 'Although drivers make very little money sitting in the drive through line, and many feel that Lyft and Taco Bell are encouraging riders to take advantage of the awkward situation this puts drivers in, the upside is this provides a great new revenue stream source for the drivers in the form of cleaning fees.'&quot;</p>
<p>Lyft clarified on Twitter that drivers' participation in &quot;Taco Mode,&quot; which is launching as a test in&nbsp;Orange County, California on Thursday, is completely optional. The company, which did not immediately respond to <em>Business Insider</em>'s request for comment, also said it plans to &quot;gather and evaluate feedback from both drivers and passengers and use this to inform Taco Mode moving forward.&quot;</p>
<p>Taco Bell will test Taco Mode in Orange County, California, from July 27 to 29 and August 3 to 5, with plans to expand the service across the US in 2018. In addition to providing passengers the ability to order drive-through Taco Bell, Taco Mode also includes a custom in-car menu, free Doritos Locos tacos, and what the company calls a &quot;taco-themed car.&quot;</p>
<p>&quot;We realized that for every person who has asked their Lyft driver to make a pit stop at Taco Bell—and we've seen many—there are likely those who weren't sure if this was possible,&quot; Taco Bell CMO Marisa Thalberg said in a statement. &quot;With the advent of this fantastic partnership with Lyft, we will erase any lingering uncertainty and celebrate the ability to 'ride-thru' in Taco Mode.&quot;</p>Thu, 27 Jul 2017 15:45:00 GMThttp://www.slate.com/blogs/business_insider/2017/07/27/lyft_drivers_aren_t_happy_about_taco_mode.htmlKate Taylor2017-07-27T15:45:00ZBusinessLyft Drivers Are Upset They May Be Asked to Take Riders to Taco Bell235170727001lyftride sharingtaco bellKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/27/lyft_drivers_aren_t_happy_about_taco_mode.htmlfalsefalsefalseLyft drivers are upset they may be asked to take riders to Taco Bell.Your Lyft driver isn't happy about abetting your Doritos Locos run.Justin Sullivan/Getty Images&nbsp;A Lyft car in San Francisco, California.&nbsp;Uber Now Has a Bigger Problem in Southeast Asiahttp://www.slate.com/blogs/business_insider/2017/07/24/grab_uber_s_southeast_asian_competitor_raises_2_billion_in_funds.html
<p><em>This <a href="http://www.businessinsider.com/uber-competitor-grab-has-raised-25-billion-from-asian-tech-giants-2017-7">post</a> was originally published in <a href="http://www.businessinsider.com/">Business Insid</a><a href="http://www.businessinsider.com/">er</a>.</em></p>
<p>Grab, a taxi-hailing service operating in South East Asia, <a href="https://www.grab.com/sg/press/business/grab-announces-didi-chuxing-softbank-lead-investors-current-round-financing/">announced on Monday</a> that it has raised $2 billion from Japanese tech investor Softbank and its Chinese equivalent, Didi Chuxing.</p>
<p>It expects to raise a further $500 million from other investors before the funding round is closed, bringing the total investment for&nbsp;the round to $2.5 billion. Grab claims the investment would be the largest ever to be made into a technology startup in Southeast Asia.</p>
<p>The Uber rival—which currently offers services in 65 cities across Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, and Myanmar—said it will use the funding to fuel its growth in South East Asia (home to over 600 million people) and invest in GrabPay, its mobile payments platform.</p>
<p>Grab was founded in 2012 by Malaysian Harvard Business School graduates Anthony Tan and Tan Hooi Ling. Today, the company claims that its app has been downloaded onto over 50 million smartphones and used by 1.1 million drivers.</p>
<p>Tan said in a statement:</p>
<blockquote>
We are delighted to deepen our strategic partnership with DiDi and SoftBank. We're encouraged that these two visionary companies share our optimism for the future of Southeast Asia and its on-demand transportation and payments markets, and recognize that Grab is ideally positioned to capitalize on the massive market opportunities. With their support, Grab will achieve an unassailable market lead in ridesharing, and build on this to make GrabPay the payment solution of choice for Southeast Asia. We look forward to continuing to work with our valued partners in the future.
</blockquote>
<p>SoftBank's investment in Grab comes after a flurry of other large investments in recent months including London <a href="https://improbable.io/company/news/2017/05/11/improbable-raises-502m-series-b-funding-round-led-by-softbank">simulated worlds startup Improbable</a> ($500 million) in May and <a href="https://www.ft.com/content/59c3a514-6c9c-11e7-bfeb-33fe0c5b7eaa">Silicon Valley</a>&nbsp;<a href="https://www.ft.com/content/59c3a514-6c9c-11e7-bfeb-33fe0c5b7eaa">autonomous vehicle technology company Nauto</a> ($159 million). The company is making some of the investments through a huge new <a href="https://techcrunch.com/2017/05/20/softbank-vision-fund-first-close/">$93 billion fund</a> which is the largest in the world of its kind.</p>
<p>Masayoshi Son, chairman and CEO of SoftBank, said: &quot;Grab is using technology to address transportation and payments, some of the biggest challenges present in Southeast Asia, and we believe Grab is a tremendously exciting company in a dynamic and promising region. SoftBank is excited to deepen this partnership and we look forward to continuing to support Grab's journey.&quot;</p>Mon, 24 Jul 2017 16:05:04 GMThttp://www.slate.com/blogs/business_insider/2017/07/24/grab_uber_s_southeast_asian_competitor_raises_2_billion_in_funds.htmlSam Shead2017-07-24T16:05:04ZBusinessUber Now Has a Bigger Problem in Southeast Asia235170724001uberride sharingasiaSam SheadBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/24/grab_uber_s_southeast_asian_competitor_raises_2_billion_in_funds.htmlfalsefalsefalseUber now has a bigger problem in Southeast Asia.Another blow to the ride-sharing company?Grab Grab's 5 year celebration in June 2017.&nbsp;Arby’s Confronted the Nihilist Arby’s Twitter Account by Bringing Its Creator Sandwiches and a Puppyhttp://www.slate.com/blogs/business_insider/2017/07/20/arby_s_brought_the_nihilist_arby_s_guy_sandwiches_and_a_puppy.html
<p>This <a href="http://www.businessinsider.com/how-arbys-made-peace-with-nihilist-arbys-2017-7">post</a> originally appeared on <a href="http://www.businessinsider.com">Business Insider</a>.&nbsp;</p>
<p>On January 14, 2015, a Twitter account named <a href="https://twitter.com/nihilist_arbys">Nihilist Arby's</a> was born, and it didn't take long for Arby's corporate office to notice.</p>
<p>With a double beef and cheese as its avatar, the angst-ridden account confronted followers with a negation of everything they held dear in life and offered they fill that void with a sandwich and curly fries.</p>
<p>By mid-February, Nihilist Arby's had 13,000 followers and, <a href="http://www.adweek.com/digital/nihilist-arbys-twitter-account-doing-better-real-arbys-162930/">as <em>Adweek</em> noted</a>, a significantly better engagement rate than <a href="https://twitter.com/Arbys">the real Arby's account</a>, which had nearly 400,000 followers.</p>
<p>At the same time, Arby's was receiving praise in the press and on Twitter for acknowledging years of being the butt of <em>The Daily Show</em> host Jon Stewart's jokes <a href="http://www.adweek.com/digital/jon-stewarts-beef-with-arbys-makes-for-good-tv-and-great-pr/">with a clever joke of its own</a> on the day Stewart announced he would retire from the show that year. A year earlier, an Arby's tweet reacting to the musician Pharrell Williams' Arby's-logo-esque hat worn in a Grammys performance <a href="http://www.adweek.com/creativity/arbys-slayed-grammys-tweet-about-pharrell-williams-hat-155237/">went viral</a>.</p>
<p>Arby's was now <a href="http://www.businessinsider.com/arbys-ceo-based-brand-comeback-on-moneyball-2017-7">a &quot;cool&quot; brand on Twitter</a>. If it overreacted to Nihilist Arby's, no matter how dark or raunchy the tweets got, it would risk becoming just another lame corporate account. The Arby's team let it be.</p>
<p>Then, in August, <em>Adweek</em> revealed that the man behind the account was <a href="https://twitter.com/badsandwich">Brendan Kelly</a>, an adman from Chicago and longtime punk-band frontman.</p>
<p>Arby's CEO Paul Brown and his marketing team read the piece.</p>
<p>&quot;We had discussions around what do we do with that? And we said, 'Well, one, even if we wanted to do something, we couldn't,'&quot; Brown told <em>Business Insider</em>. &quot;But we also had a little fun with him, too.&quot;</p>
<p>Arby's would soon make peace with its nihilist counterpart, flying an executive out to meet Kelly with a bag of food and a puppy.</p>
<p>Kelly is well-known in the punk scene for his bands the Lawrence Arms, the Falcon, and the Wandering Birds, and he has been touring since he was a teenager in the '90s.</p>
<p>About six years ago, when crossing the country in a packed van for months at a time lost its appeal, he got into the more stable world of advertising. He would still record and play music, just a bit less frequently. And while working as a copywriter wasn't exactly punk, it was still a creative outlet.</p>
<p>In January 2015, Kelly was working at the ad agency FCB when he found himself in a conference room with a brand executive pitching Twitter strategy to the head of social media.</p>
<p>&quot;It just seemed so impossible and stupid,&quot; Kelly told <em>Business Insider</em>.</p>
<p>He imagined a scenario where someone in charge of a brand's Twitter account lacked the executive's naive enthusiasm and instead had a &quot;red pill&quot; experience, a reference to the pill in <em>The Matrix</em> that frees people from an artificial world. This social-media employee would be &quot;exposed to how fucking horrendously tragic life actually is—you know, how meaningless everything is,&quot; Kelly said, laughing.</p>
<p>A phrase that popped into his head was &quot;Nihilist Arby's,&quot; which had less to do with anything specific about Arby's and more with how goofy it sounded. Kelly decided he would make this hypothetical account real, just to amuse himself.</p>
<p>He was going to give it a cleverer name when he decided to follow advice that helped guide his approach to his job. A mentor of his told him that effective advertising used extremes to grab potential customers' attention.</p>
<p>&quot;It's got to be a little bit stupid,&quot; he said this mentor told him.</p>
<p>After nearly five months of running the increasingly popular account, Kelly thought it would be fun to bring even more attention to it. Using his showmanship and marketing skills, he produced a minute-and-a-half video that opened with him saying, &quot;I was born out of an infinite blackness.&quot; A couple of his <a href="https://www.youtube.com/watch?v=-Uax7Aimox4">Wandering Birds songs</a> provide <a href="https://www.youtube.com/watch?v=SI6-be8eG6g&amp;list=RDSI6-be8eG6g">the soundtrack</a>.</p>
<p>He sent the video from his Nihilist Arby's Gmail account to David Anthony, the music editor at <em>The AV Club,</em> <em>The Onion</em>'s nonsatirical site. (Kelly now works for <em>The Onion</em>'s ad team, Onion Labs.) Anthony immediately recognized Kelly in the video <a href="http://www.avclub.com/article/creator-nihilist-arbys-sent-us-weird-video-manifes-219595">and wrote it up</a>, bringing more exposure to Kelly's parody account as well as his bands.</p>
<p>But Anthony didn't conclude whether Kelly was the creator of Nihilist Arby's or had just collaborated on this weird video.</p>
<p>That August, Christopher Heine at <em>Adweek</em> reached out to the same Gmail account that contacted The AV Club. He asked if Kelly was the one behind it and whether he'd like to talk about it.</p>
<p>&quot;So at that point I was like, yeah, I'm ready to tell people, I don't care,&quot; Kelly said.</p>
<p>On August 13, Heine published a profile of Kelly that ran across three pages in the print edition of Adweek. It included praise from ad creatives about how Kelly demonstrated genuinely sharp insight into what young people look for on social media. Kelly thought it made him look great.</p>
<p>&quot;I almost got fired for that, actually,&quot; he said.</p>
<p>Even though FCB was not mentioned in the article, managers at the agency were afraid Kelly's hijinks could compromise some of their accounts. Kelly said his boss gave him a warning: &quot;You cannot talk about this at all. I don't want to hear the word 'Arby's' in this office.&quot;</p>
<p>As his job hung in the balance because of the profile, he began receiving interesting job offers from other agencies for the same reason.</p>
<p>Meanwhile, at Arby's headquarters in Sandy Springs, Georgia, Brown and his leadership team discussed the <em>Adweek</em> profile. Brown said it could be difficult as a CEO to see your company be the subject of harsh jokes, but that the success of playfully sparring with Stewart earlier that year was a teaching moment.</p>
<p>&quot;Do you write a cease-and-desist letter?&quot; Brown said. &quot;The way I look at it is what kind of person do you want to be a friend with? You don't want to be a friend with that kind of a person who's defensive and you can't joke around.&quot;</p>
<p>Six days after the <em>Adweek</em> story, Kelly was at FCB's offices in Chicago's John Hancock Center preparing to leave early for a secret job interview he'd landed as a result of that profile. Before he could leave, he got a call around 3:30 from the building's front desk letting him know that a team from Arby's was there to see him.</p>
<p>Kelly said the thought that the team was there to confront him never crossed his mind. But some of his co-workers he told on his way out came down to the lobby with him, &quot;inspired by the promise of free food, the curiosity surrounding my weirdly popular Twitter account, and, finally, because the whole thing had become such a weirdly forbidden topic in the office,&quot; Kelly said.</p>
<p>Christopher Fuller, Arby's senior vice president of communications, was there with several members of Arby's marketing team, a bag full of sandwiches, and a black Labrador puppy they had borrowed from a friend. They greeted Kelly and handed him a handwritten note on Arby's stationery: &quot;Cheer up, buddy. You live in a world with puppies...and sandwiches.&quot;</p>
<p>Kelly later posted a photo of the exchange on his personal Twitter account, expressing sincere gratitude at the gesture.</p>
<p>&quot;I don't want to give away the mystique surrounding the man behind the tweets,&quot; Fuller told <em>Business Insider</em>. &quot;I'll just say his personal demeanor is very different from his online disposition. He seemed like an all-around nice guy.&quot;</p>
<p>Kelly got on the ground with the dog and had a pleasant chat with the Arby's team, but he still needed to rush out of there for his job interview disguised as a doctor's appointment.</p>
<p>&quot;It's kind of hard to have regrets about a stupid parody Twitter account about the futility of corporate Twitter, but I do regret that not going a little more smoothly,&quot; Kelly said of the meeting with the Arby's team. &quot;But I really would have liked to have hung out a little more with those people and talked to them.&quot; He said he wanted to get more insight into how they approach handling their brand and what they thought when they discovered his account.</p>
<p>The bag of sandwiches was a gift to Kelly and his co-workers, but because anything related to Nihilist Arby's was off-limits in the office upstairs, he couldn't even send one of his friends up with the food. He grabbed one of the loaded Italian subs—a sandwich name that could be used to describe him a lot of the time, he said—and left the rest with a co-worker who said he'd give the rest to homeless people. (&quot;I don't know if that happened or not, but he seemed pretty motivated, I guess,&quot; Kelly said.)</p>
<p>The interview didn't lead to anything, but Kelly can now be open about his Nihilist Arby's account at his job at <em>The Onion</em>, and he even sells Nihilist Arby's merch.</p>
<p>The account now has nearly 300,000 followers, and his tweets get thousands of interactions. Arby's marketing team still keeps an eye on it.</p>
<p>&quot;We've cringed, laughed, and maybe even cried just a little,&quot; Fuller said.</p>
<p>Kelly is still an Arby's fan, no matter how caustic his parody account gets.</p>
<p>&quot;I try to mix it up a little bit,&quot; he said of his orders. &quot;But I like a good Beef and Cheddar. I like that Loaded Italian. I like the potato cakes quite a bit.&quot;</p>
<p>We told him we ate some of the potato cakes the day before.</p>
<p>&quot;That's about where I'm at,&quot; he said.</p>Thu, 20 Jul 2017 16:33:00 GMThttp://www.slate.com/blogs/business_insider/2017/07/20/arby_s_brought_the_nihilist_arby_s_guy_sandwiches_and_a_puppy.htmlRichard Feloni2017-07-20T16:33:00ZBusinessArby’s Confronted the Nihilist Arby’s Twitter Account by Bringing Its Creator Sandwiches and a Puppy235170720001twitteradvertisingfast foodRichard FeloniBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/20/arby_s_brought_the_nihilist_arby_s_guy_sandwiches_and_a_puppy.htmlfalsefalsefalseArby’s confronted the Nihilist Arby’s Twitter account by bringing its creator food and a puppy.Well played.SAUL LOEB/AFP/Getty ImagesAn Arby's fast food restaurant location in Woodbridge, Virginia.SoundCloud Was Hiring Almost Up to the Point That It Laid Off 40 Percent of Its Workforcehttp://www.slate.com/blogs/business_insider/2017/07/19/the_tangled_story_of_soundcloud_s_recent_brush_with_death.html
<p><em>This <a href="http://www.businessinsider.com/how-music-streaming-service-soundcloud-ended-up-on-brink-of-existence-2017-7">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>“Two weeks ago I moved from Scotland to Germany to start a new job as an iOS engineer at SoundCloud,”&nbsp;<a href="https://hackernoon.com/my-week-at-soundcloud-385e25c65d33">wrote Matthew Healy on the Hackernoon website</a>&nbsp;on July 10. &quot;On Monday of last week I started that job. By Thursday evening I, along with 172 of my new colleagues, was officially being laid off.</p>
<p>&quot;Why was a business that was about to cut 40 percent of its workforce still hiring so aggressively?&quot; he asked.</p>
<p>It's a question that Healey and many other SoundCloud employees are still struggling to understand.</p>
<p>Reports started to appear online on July 5 that said&nbsp;SoundCloud&nbsp;was about to cut its 420-strong workforce by 40 percent. <a href="https://www.bloomberg.com/news/articles/2017-07-06/soundcloud-cuts-40-percent-of-staff-in-bid-to-remain-independent">Bloomberg had read a draft blog post</a> in which SoundCloud CEO Alex Ljung explained that the company&nbsp;was letting go of 173 staff, and <a href="https://www.google.de/search?q=soundcloud+london&amp;oq=soundcloud+london&amp;aqs=chrome..69i57l2j69i60l2j69i61j69i60.2721j0j7&amp;sourceid=chrome&amp;ie=UTF-8">shutting down its offices in London&nbsp;and San Francisco</a> (leaving only offices in New York City and Berlin) as part of an effort to reduce costs at the company, whose losses have been spiraling out of control. </p>
<p>&quot;Nobody saw it coming,&quot; a SoundCloud employee, who wishes to remain anonymous, told <em>Business Insider</em>. &quot;It was a sudden announcement.&quot;</p>
<p>Those that remain at the company could be forgiven for feeling nervous. SoundCloud's existing cash reserves will only carry it through to the fourth quarter of the year, which is less than 50 days away, <a href="https://techcrunch.com/2017/07/12/soundshroud/">according to sources cited by TechCrunch</a>. SoundCloud has attempted to downplay the TechCrunch report, although the company confirmed last week that it is <a href="http://uk.businessinsider.com/soundcloud-ceo-alex-ljung-confirmed-he-is-on-the-hunt-for-more-capital-2017-7">in the process of trying to raise&nbsp;more capital.</a></p>
<p>The leaked blog post that Bloomberg saw <a href="https://blog.soundcloud.com/">was quickly published&nbsp;onto SoundCloud's website</a> and there have been two company all-hands meetings since. </p>
<p>During last&nbsp;week's all-hands meeting—held on July 11 and monitored&nbsp;by a number of security personnel—&quot;SoundClouders&quot; were looking for answers as to why the company had to suddenly lay&nbsp;off almost half of its staff.</p>
<p>Staff&nbsp;wanted to know why they hadn't been warned that cuts were&nbsp;on the way, and the remaining employees&nbsp;wanted assurance that the cost reductions would keep the company in business for the foreseeable future.</p>
<p>&quot;The all-hands today was absolutely horrible,&quot; another SoundCloud employee, who also wishes to remain anonymous, told <em>Business Insider</em> shortly after the&nbsp;meeting. &quot;[There were]&nbsp;no real answers and [they were] politically avoiding questions.&quot;</p>
<p>Ljung and cofounder Eric Wahlforss accepted &quot;no ownership of the responsibility and no admittance of fault,&quot; the source claimed, adding that they also failed to state whether there would be any&nbsp;repercussions for the executives that have led SoundCloud into the sticky position it&nbsp;now&nbsp;finds itself in.</p>
<p>SoundCloud was founded in Stockholm, Sweden, in August 2007. It launched in 2008 and started out as a cool, indie platform for people interested in discovering the latest and greatest new music.</p>
<p>&quot;We build an online audio platform that's used by people working with music to be able to receive, send, and distribute their music,&quot; Ljung said in <a href="https://www.youtube.com/watch?v=p2d8t-46m3o">a YouTube video</a> uploaded in October 2008 when SoundCloud had around 25,000 users.</p>
<p>&quot;They use it on a daily basic to be able to get files they're working on over to other people ... or to be able to take their finished tracks and get them out to people who then sell the tracks or to other social networks. What we're basically doing in the long term is trying to build a cloud-based audio platform that anybody who is&nbsp;involved with music can work with.&quot;</p>
<p>The founders <a href="https://www.kth.se/en/aktuellt/nyheter/meet-the-entrepreneurs-1.486274">met while studying at KTH Royal Institute of Technology in Stockholm</a>, which has a reputation for being one of the <a href="http://uk.businessinsider.com/best-computer-science-schools-in-the-world-2016-6">world's best computer science universities</a>. They&nbsp;bonded over a shared love of music and decided to create a platform that was something like Flickr or Wordpress but for sound.</p>
<p>&quot;We both were working in music and one way or another I used to be a sound designer for films and Eric used to release music,&quot; Ljung said in the same YouTube video. &quot;We had a lot of trouble trying to collaborate with people. Trying to use the web and getting sent music all the time. Getting it to our inboxes and getting the weird FTP logins. One day we realised OK&nbsp;it's actually annoying when people send us new music they're working on when that should be like a really happy moment.&quot;</p>
<p>Shortly after setting up the company, the founders moved SoundCloud to Berlin, which was developing a reputation as one of the most startup-friendly cities in Europe at the time, partly due to its cheap accommodation and its abundance of talented programmers.</p>
<p>&quot;If I look back 10 years ago, Berlin was a nascent [startup] ecosystem,&quot;<a href="http://www.businessinsider.de/soundcloud-cofounder-eric-wahlforss-says-london-was-crucial-2017-3?r=UK&amp;IR=T"> Wahlforss said at a startup event in March</a>. &quot;It didn't have all of the infrastructure in place, but it certainly had some of the raw ingredients.&quot;</p>
<p>The company became&nbsp;one of Berlin's most-loved startups and in May 2014, <a href="https://www.recode.net/2014/5/19/11627042/twitter-is-considering-a-deal-to-buy-soundcloud">SoundCloud was reported to have caught the eye of Twitter</a>,&nbsp;which&nbsp;was considering buying the platform.&nbsp;Twitter had already tried to launch a music product to get people to stay longer on the platform, <a href="https://www.theverge.com/2014/3/21/5534814/twitter-music-is-officially-dead">but the attempt failed</a>.</p>
<p>Ultimately <a href="http://uk.businessinsider.com/why-twitter-didnt-acquire-soundcloud-2014-11">the Twitter talks fell through</a>. This is thought to be partly because SoundCloud wanted a deal worth $1 billion when its&nbsp;valuation was only&nbsp;$700 million. It could also be because, despite its best efforts, SoundCloud had&nbsp;been <a href="https://www.google.de/search?q=soundcloud+sued&amp;oq=soundcloud+sued&amp;aqs=chrome..69i57j0l2j69i60j0l2.4622j0j4&amp;sourceid=chrome&amp;ie=UTF-8">plagued by copyright infringement</a> issues. </p>
<p>In May 2015, <a href="http://uk.businessinsider.com/sony-pulls-artists-from-soundcloud-2015-5">Sony Music pulled music by several key artists</a> from SoundCloud after the label decided&nbsp;it wasn't making enough money from music hosted on the streaming site. Original recordings from Sony artists like Adele, Kelly Clarkson, Miguel, and Hozier were removed. They were later <a href="https://blog.soundcloud.com/2016/03/18/announcing-partnership-sony-music/">added again after SoundCloud negotiated a new deal</a> with Sony Music. </p>
<p>In August 2015, <a href="http://uk.businessinsider.com/soundcloud-sued-by-prs-over-musicians-royalties-2015-8">SoundCloud was sued</a> for not paying musicians royalties. In an email sent to its members, the Performing Rights Society for Music (PRS for Music) announced that it felt it has &quot;no alternative but to commence legal proceedings,&quot; following &quot;five years of unsuccessful negotiations.&quot; </p>
<p>By November 2015, <a href="http://www.businessinsider.de/soundclouds-loyal-users-are-starting-to-lose-faith-in-the-site-2015-11?r=UK&amp;IR=T">loyal </a><a href="http://www.businessinsider.de/soundclouds-loyal-users-are-starting-to-lose-faith-in-the-site-2015-11?r=UK&amp;IR=T">SoundCloud users were starting&nbsp;to lose faith in the site</a> as it shifted from a hangout for DJs and radio hosts to a commercial platform. Users&nbsp;said the&nbsp;music streaming app and website had strayed from its earlier focus on&nbsp;supporting DJs and felt that it was unfairly removing content and focusing on high-profile users and licensed music. </p>
<p>At the time, <em>Business Insider</em> spoke to Chris Reed, known as Plastician,&nbsp;owner of the&nbsp;Terrorhythm Recordings music label which he launched in 2002.&nbsp;He said that he &quot;had trouble&quot; with a track on his personal&nbsp;SoundCloud profile as well as the profile of his record label. &quot;I own all the rights to it, it contains no illegal samples, and I even own the publishing to it,&quot; he said. &quot;So I was really confused as to why this is happening.&quot;</p>
<p>Over time, the company managed&nbsp;to successfully negotiate deals with many of the major record labels—but this didn't come cheap. SoundCloud had to sacrifice some of its equity&nbsp;in the process, but bringing the major labels on board helped it&nbsp;to compete with the likes of Apple Music and Spotify. </p>
<p>Today, the company has deals with all three major music labels: Sony Music Entertainment, Universal Music Group, and Warner. In the process, it's given away a significant amount equity, with <a href="http://www.nytimes.com/2014/11/05/business/media/soundcloud-signs-licensing-deal-with-warner-music.html">3 to 5 percent going to Warner</a> and <a href="https://www.musicbusinessworldwide.com/soundcloud-agreed-licensing-deal-universal-say-sources/">possibly more going to Universal</a>.</p>
<p>SoundCloud claims to have around 175 million listeners who can tune&nbsp;into listen to more than 150 million pieces of content. For most of its life, it was completely free and had no revenue stream.</p>
<p>It introduced advertisements in mid-2015 ahead of the launch of its $9.99 SoundCloud Go+ subscription streaming service, <a href="http://www.businessinsider.com/soundcloud-just-dropped-details-about-its-competitor-to-spotify-and-apple-music-which-will-cost-1299-2016-3">which launched in March 2016</a> to compete with Spotify, Apple Music, and&nbsp;Amazon&nbsp;Music.&nbsp;There's also a cheaper $4.99 option that allows users to listen to content without ad interruptions but they don't get access to all of the music on the platform. </p>
<p>The deals with the major labels are what allowed Spotify to launch its&nbsp;premium service. That essentially means the company was forced&nbsp;to give away chunks of equity to launch its music streaming service.</p>
<p>But ultimately, SoundCloud remains unprofitable.&nbsp;The <a href="https://www.ft.com/content/47dc2c34-d360-11e6-b06b-680c49b4b4c0?mhq5j=e3">last official numbers</a> show SoundCloud incurred an almost $59 million loss in 2015, higher than the almost $45 million loss it recorded in 2014. The company's revenues in 2015 were about $24 million. </p>
<p>During 2015, SoundCloud's headcount grew by 25 percent, up from 236 to 295 people. A Companies House filing shows that it&nbsp;spent $28 million on wages and salaries in the year.&nbsp;That meant the average annual salary at the company hit $95,000 in 2015–up 19 percent on the $80,000 average wage paid out to staff in 2014.</p>
<p>One major point of contention is the fact that SoundCloud hired&nbsp;a number of people into roles over the last few months knowing full well that&nbsp;they were going to have to make large redundancies, <a href="https://techcrunch.com/2017/07/12/soundshroud/">according to <em>TechCrunch</em></a>.</p>
<p>Developer Vojta Stavik and his girlfriend were planning to pack up their lives in Prague and&nbsp;move to Berlin where&nbsp;Stavik was planning to&nbsp;take his dream job at SoundCloud. He and his girlfriend were planning to let&nbsp;go of their&nbsp;apartment, say&nbsp;goodbye to their&nbsp;friends and family, and relocate&nbsp;to the German capital.</p>
<p>Stavik was due to start on July 17 but his engineering role was axed on July 7.&nbsp;He told <em>Business Insider</em> on the day he was due to start: &quot;I'm moving there this week by my own without having any particular job.&quot;</p>
<p>Stavik applied for the job at SoundCloud in April. In May, after a 20-minute Skype call and a remote coding assignment that he spent 20 hours on, SoundCloud flew him to Berlin for a series of interviews and tests. He was offered a job at SoundCloud two days after his trip to Berlin.</p>
<p>&quot;I was super happy and excited about moving to Berlin!&quot; Stavik wrote in <a href="http://vojtastavik.com/2017/07/09/how-i-didnt-become-a-soundclouder/">a blog post</a> explaining the process on July 9. </p>
<p>SoundCloud told Stavik that it&nbsp;would provide him and his girlfriend&nbsp;with temporary accommodation for their first few weeks in Berlin. They were supposed to get the keys on July 13. </p>
<p>On July 6, Stavik saw a report about the job cuts at the company. He immediately&nbsp;sent an email to the recruiter asking whether they affected him.</p>
<p>On July 7, he received an email from the relocation agency saying it&nbsp;had paused his&nbsp;relocation process and it&nbsp;was waiting for SoundCloud HR to provide it&nbsp;with more information. The company&nbsp;also told him that everyone at SoundCloud had been given a day off to process the news. &quot;That was the moment when I realised that I'm probably screwed,&quot; Stavik wrote on&nbsp;his&nbsp;blog.</p>
<p>&quot;For the whole day, I was sending emails to every contact person at SoundCloud I had, asking them about my planned start day, having no response.&quot;</p>
<p>Finally, at 8 p.m. that evening, SoundCloud chief technology officer&nbsp;Artem Fishman called him up and told him his job has been canceled.&nbsp;&quot;I told him I already quit my job, let my apartment in Prague go, and was supposed to move to Berlin in just a few days! I also asked him about the possible compensation. The response was negative.&quot;</p>
<p>Stavik claimed that Fishman&nbsp;said SoundCloud wanted&nbsp;to act like his application never happened.</p>
<p>Stavik is now on the hunt for a job&nbsp;in Berlin.</p>
<p>Elsewhere, software engineer Matthew Healy <a href="https://hackernoon.com/my-week-at-soundcloud-385e25c65d33">wrote a blog post</a> on titled: &quot;My week at SoundCloud.&quot; </p>
<p>In the post, Healy said: &quot;Two weeks ago I moved from Scotland to Germany to start a new job as an iOS engineer at SoundCloud. On Monday of last week I started that job. By Thursday evening I, along with 172 of my new colleagues, was officially being laid off.&quot;</p>
<p>Healey had&nbsp;secured a lease on an apartment and sold many of his belongings in order to move to Berlin to work for SoundCloud.</p>
<p>&quot;I had my first day at SoundCloud on the Monday before I signed that lease. It was a ridiculous start to a new job. First, there was the obligatory branded swag: a T-shirt, a water bottle, a pair of headphones, all in a branded tote bag. Then there was the office itself: an incredible space where every detail had been considered, with free snacks and drinks, and an espresso machine. I couldn’t believe how lucky I was to work there.</p>
<p>&quot;Eleven other people started with me. Around the office, people were telling us it was the biggest intake in months.&quot;</p>
<p>Stavik, Healy, and many other SoundCloud staff have added their names to <a href="https://docs.google.com/spreadsheets/u/1/d/1ZP8FNlL0a-SvSpZFflxOj2LioK66lmB3S095A5FmOjg/htmlview?sle=true#gid=207728232">an open spreadsheet</a> of SoundClouders for hire. Recruiters that are interested in hiring the laid off SoundClouders are also adding their names and details to a separate page on the spreadsheet. </p>
<p><a href="https://techcrunch.com/2017/07/12/soundshroud/"><em>TechCrunch</em> reports</a> that SoundCloud's&nbsp;founders told staff during one of the post-redundancy all-hands meetings that investors&nbsp;had asked them in March to make the job cuts as part of a <a href="http://uk.businessinsider.com/soundcloud-raises-70-million-debt-funding-companies-house-documents-2017-3">$70 million debt funding&nbsp;deal</a> that was first reported&nbsp;by <em>Business Insider</em>.&nbsp;SoundCloud was reportedly forced to raise the debt funding after it failed to raise $100 million in venture funding. </p>
<p>Several top-tier executives left SoundCloud in the months leading up to the job cuts, possibly because they knew they were on the way. <a href="http://uk.businessinsider.com/music-streaming-company-soundcloud-has-lost-its-coo-and-finance-director-2017-2">SoundCloud's COO and finance director both left the company</a> around February, while veteran SoundCloud employee <a href="http://uk.businessinsider.com/david-noel-is-leaving-soundcloud-after-eight-years-2017-3">David No&euml;l left in March</a>.</p>
<p>During a fireside chat with&nbsp;<em>TechCrunch</em> editor at large Mike Butcher in Berlin on July 12, Ljung carefully dodged questions that staff would no doubt love to know&nbsp;the answers to.</p>
<p>&quot;We were hiring people up until we shifted strategy,&quot; Ljung said at the Tech Open Air conference. &quot;We operate in many different countries. In some countries it takes a long time for people to be hired.&quot;</p>
<p>The company's current cash reserves will only last until the end of the fourth quarter, <a href="https://techcrunch.com/2017/07/12/soundshroud/">according to <em>TechCrunch</em> sources</a>. Ljung confirmed on July 12&nbsp;that he's in the process of trying to raise more money for the company after he was asked about a rumoured $250 million funding round.</p>
<p>Ljung repeatedly said during his interview with Butcher that he was adamant on building a strong and independent music streaming platform and refused to comment on Google and Spotify acquisition rumours. <a href="https://www.ft.com/content/d03bedbe-85bb-11e6-8897-2359a58ac7a5?mhq5j=e3">The <em>Financial Times</em> reported last September</a> that Spotify&nbsp;was in &quot;advanced talks&quot; to buy SoundCloud for $1 billion, while <a href="https://www.musicbusinessworldwide.com/google-mulling-soundcloud-buyout-say-whispers-sony-universals-stakes-revealed/">Music Business Worldwide reported in January</a> that Google was mulling an acquisition that was likely to be in the order of $500 million. </p>
<p>&quot;It's a very sad event to let go of these people but if we zoom out and look at the entire company right now, I think people are missing a couple of key points,&quot; Ljung said in Berlin. He highlighted how SoundCloud was the twentieth&nbsp;most-downloaded app in the US App Store on the day before the interview. &quot;We have an enormous user base and very good growth. Very good engagement too.&nbsp;Everything in terms of the business and user metrics is growing.</p>
<p>&quot;Now is the time where we have to take more control over our situation,&quot; he said. &quot;We're in the process of reducing our cost basis significantly.&nbsp;We're taking more control of our own future and ensuring our independence.&quot;</p>
<p>On July 13, as rumours circulated that SoundCloud was close to running out of money, hip hop artist Chancelor Bennett&nbsp;(aka&nbsp;Chance the Rapper) wrote on Twitter: <a href="https://twitter.com/chancetherapper/status/885561915577126912">&quot;I'm working on the SoundCloud thing.&quot;</a> The next day, he followed up with another tweet that read: &quot;Just had a very fruitful call with Alex Ljung. <a href="https://twitter.com/SoundCloud/">@SoundCloud</a> is here to stay.&quot; </p>
<p>What was said on the call isn't known. <a href="http://www.vulture.com/2017/07/chance-the-rapper-soundcloud.html">Some people speculated that&nbsp;Bennett's mysterious tweet</a> meant&nbsp;that&nbsp;he had given SoundCloud some money, <a href="http://www.factmag.com/2017/07/14/chance-the-rapper-soundcloud-buyout-rumors/">while others speculated</a> that he might be buying the service. It wouldn't be the first time a solo artist has bought a music streaming platform — <a href="https://www.theverge.com/2015/1/30/7950317/Jay-z-buys-tidal-wimp-aspiro-to-take-on-spotify">Jay Z acquired&nbsp;Tidal in 2015</a>.</p>
<p>A representative for SoundCloud <a href="http://variety.com/2017/digital/news/chance-the-rapper-says-soundcloud-is-here-to-stay-in-cryptic-tweet-1202496118/">reportedly told Variety</a> that the rapper is &quot;essentially spreading good vibes about the company&nbsp;during a challenging time.&quot; The representative added that they were unaware of a more material commitment. </p>
<p>Shortly after Bennett's tweet, a <a href="https://blog.soundcloud.com/">post from Ljung</a> appeared on SoundCloud's blog. It read:</p>
<blockquote>
Hey everyone,
</blockquote>
<blockquote>
There's an insane amount of noise about SoundCloud in the world right now. And it's just that, noise. The music you love on SoundCloud isn't going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away. Not in 50 days, not in 80 days or anytime in the foreseeable future. Your music is safe.
</blockquote>
<blockquote>
Along with each of you, we’ve built this incredible creative community of artists, podcasters, DJs, producers and more who are the driving force in pushing culture &nbsp; forward in the world. That’s not going to change. Last week we had to make some tough decisions to let go of some of our staff, but we did this to ensure &nbsp;&nbsp;&nbsp;&nbsp;SoundCloud remains a strong, independent company.
</blockquote>
<blockquote>
Thank you for the outpouring of love and support. Some of you have asked how you can help–spread the word that we’re not going anywhere and keep doing what you’re doing–creating, listening, uploading, sharing, liking, and discovering what’s new, now and next in music. SoundCloud is here to stay.
</blockquote>
<blockquote>
Peace,
</blockquote>
<blockquote>
Alex
</blockquote>
<p>It's safe to assume that the last two weeks have been among the most difficult for&nbsp;SoundCloud&nbsp;since it was founded.</p>
<p>But SoundCloud's co-founders appear to be trying to carry on as normal. Both co-founders have attended parties in Berlin over the last couple of weeks, with&nbsp;Wahlforss co-hosting one with his wife last Thursday at a rural site just outside Berlin. He refused to answer <em>Business Insider</em>'s questions at the party, saying: &quot;I don't want to do an interview.&quot;</p>Wed, 19 Jul 2017 19:14:00 GMThttp://www.slate.com/blogs/business_insider/2017/07/19/the_tangled_story_of_soundcloud_s_recent_brush_with_death.htmlSam Shead2017-07-19T19:14:00ZBusinessSoundCloud Was Hiring Almost Up to the Point That It Laid Off 40 Percent of Its Workforce235170719001music streaminghiringSam SheadBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/19/the_tangled_story_of_soundcloud_s_recent_brush_with_death.htmlfalsefalsefalseSoundCloud was hiring almost up to the point that it laid off 40 percent of its workforce.Some employees were let go mere days after they moved to Berlin to work for the company.Soundcloud co-founder Eric Wahlforss appears on stage at the 2014 TechCrunch Disrupt Europe/London conference.How Tom Holland Went Undercover at a Bronx High School to Prepare for Spider-Man: Homecominghttp://www.slate.com/blogs/business_insider/2017/07/11/tom_holland_went_undercover_at_bronx_high_school_of_science.html
<p><em>This </em><a href="http://www.businessinsider.com/tom-holland-spider-man-homecoming-bronx-science-undercover-marvel-2017-7">post</a><em> originally appeared on </em><a href="http://www.businessinsider.com/">Business Insider</a><em>.</em></p>
<p>Halfway through his senior year at the Bronx High School of Science, Arun Bishop received an unexpected request. He was sitting in the principal's office chatting casually with an adviser when the vice principal approached him with an offer from Marvel Studios.</p>
<p>Marvel wanted to send the newest Spider-Man—the London-born actor Tom Holland—to high school so he could better understand his role as the teen Peter Parker. But because Parker is a brilliant tech whiz at the fictional Midtown School of Science and Technology, there was only one place Holland could go.</p>
<p>You see, the Bronx High School of Science is not your run-of-the-mill high school. It is consistently ranked as one of the top high schools in the country, and students must score highly on a competitive New York City-wide exam to gain entry.</p>
<p>The public school's list of notable alumni is so extensive that it has <a href="https://en.wikipedia.org/wiki/List_of_Bronx_High_School_of_Science_alumni">its own Wikipedia page</a> and includes eight Nobel Prize winners, the celebrity astrophysicist Neil deGrasse Tyson, and the &quot;Iron Man&quot; and &quot;Elf&quot; director Jon Favreau. (Full disclosure: I also attended Bronx Science, but I have yet to make it onto the Wikipedia page.)</p>
<p>Marvel wanted Holland to shadow a student who was pursuing a STEM—science, technology, engineering, and math—curriculum similar to what Parker would be studying, and Bishop quickly emerged as a prime candidate. As a senior, Bishop was the captain of the school's robotics team and was taking high-level science classes.</p>
<p>Bishop—a big Marvel fan who lists Iron Man as his favorite Avenger because of his love of robotics—quickly agreed to let Holland shadow him for a couple of days.</p>
<p>&quot;I've never been huge on celebrities. I never followed that sort of stuff,&quot; Bishop told <em>Business Insider</em>. &quot;But I thought it'd be a really cool experience.&quot;</p>
<p>At the beginning of February 2016, Holland arrived at Bronx Science and met Bishop in the courtyard before school started. The pair got to know each other a bit and reviewed Holland's backstory.</p>
<p>Because Marvel wanted Holland to get as close to an authentic experience as possible, he had to go undercover. In addition to Bishop, the only other people who would know Holland's true identity were his teachers and a few members of the administration.</p>
<p>Holland would use an American accent and introduce himself to other students as Bishop's cousin Ben. Any questions about how he got into Bronx Science without taking the entrance exam would be explained away by saying his father was in the military and recently was stationed in New York.</p>
<p>The plan was almost foiled from the start. The school had provided Holland with an ID card so he could swipe in at the beginning of the day. However, instead of creating one with a unique card number, it instead made a copy of Bishop's, with a different photo and name. When the pair entered the school, the system registered it as someone trying to swipe in twice and sounded the alarm. Security came over, but they explained the situation and carried on without attracting too much attention. From there, it was time to go to class.</p>
<p>&quot;What Marvel wanted was just to get the experience of a typical STEM high schooler's life,&quot; Bishop said. &quot;They didn't want me to do anything special—just walk through the day as I would any other day.&quot;</p>
<p>With a backpack in tow, Holland accompanied Bishop through his STEM-intensive schedule. The actor sat in on Advanced Placement physics; linear algebra and differential equations; experimental engineering; AP calculus AB; AP English literature; and AP microeconomics.</p>
<p>&quot;I felt a little bad for him, having to go through my entire schedule,&quot; Bishop said. &quot;If you don't know what's going on, those 40-minute classes must be boring.&quot;</p>
<p>But even though most of the course material was going over his head, Holland was enjoying himself. In England, he had been to only all-boys schools, and he told Bishop it was &quot;a little funny&quot; to be in a coed classroom.</p>
<p>After their first day together, Bishop said it was easy to forget that Holland would soon be one of the most recognizable people in the world. He said the actor was very easy to talk to and that it got to the point where he just felt like he was talking to another friend.</p>
<p>&quot;I kept reminding myself: 'This is Tom Holland. He's gonna be Spider-Man for Marvel,'&quot; Bishop said. &quot;It's weird now when I see him in a commercial or something. There's a disassociation where my brain knows I've talked to this guy and shown him around school, but seeing him on the screen is different.&quot;</p>
<p>By the second day, the thrill of being undercover was wearing off, and Holland was starting to experience a feeling most high schoolers have daily: boredom. To pass the time, he tried to convince some people that he was Spider-Man. It wasn't that easy, though.</p>
<p>&quot;Most of them wouldn't believe him at all. Because that just doesn't make sense, right?&quot; Bishop told <em>Business Insider</em>. &quot;Why, at Bronx Science, would there be an actor who's been shadowing me for a day and a half?&quot;</p>
<p>Bishop and Holland went out into the courtyard during their lunch period to have some fun. Holland would ask students if they would mind answering a few questions about Marvel, and Bishop would film the interaction on Holland's phone.</p>
<p>&quot;He'd ask them: 'Do you watch Marvel Movies? Who's your favorite superhero? What do you think of the new Spider-Man actor?'&quot; Bishop said. &quot;It was crazy; nobody recognized him.&quot;</p>
<p>Bishop and Holland did manage to convince one group of girls that Holland was Spider-Man by showing them his ID and having them look him up on their phones. When the girls realized a celebrity was in their midst, they &quot;went a little crazy,&quot; Bishop said.</p>
<p>At the end of Holland's two days undercover, the pair parted ways. Holland left to begin filming the <a href="http://www.businessinsider.com/spider-man-tom-holland-confirms-6-marvel-movies-2016-11">first of six films</a> in which he'll play the famous wall-crawler.</p>
<p>Bishop is now a rising sophomore at the University of Michigan majoring in mechanical engineering with a minor in computer science. Though he was selected to help Holland better understand the life of Parker, his career goals line up more closely with those of Tony Stark: Bishop hopes to one day obtain his master's and work in the field of robotics.</p>
<p>And now that <em>Spider-Man: Homecoming</em> is <a href="http://www.businessinsider.com/spider-man-homecoming-box-office-2017-7">taking the box office by storm</a>?</p>
<p>&quot;I have obviously bragged a little,&quot; Bishop said. &quot;Because why not?&quot;</p>Tue, 11 Jul 2017 17:14:17 GMThttp://www.slate.com/blogs/business_insider/2017/07/11/tom_holland_went_undercover_at_bronx_high_school_of_science.htmlNick Vega2017-07-11T17:14:17ZBusinessHow Tom Holland Went Undercover at a Bronx High School to Prepare for
<em>Spider-Man: Homecoming</em>235170711001marvelmoviesNick VegaBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/11/tom_holland_went_undercover_at_bronx_high_school_of_science.htmlfalsefalsefalseHow Tom Holland went undercover at a Bronx High School to prepare to be Spider-ManNo, his student ID badge didn't say "Peter Parker."Chung Sung-Jun/Getty ImagesWhen Tom Holland isn't filming or speaking at press conferences he just might be found in a high school.&nbsp;Fitbit Competitor Jawbone Is Calling It Quitshttp://www.slate.com/blogs/business_insider/2017/07/07/jawbone_is_liquidating_its_assets_and_shutting_down.html
<p><em>This <a href="http://www.businessinsider.com/jawbone-shutting-down-liquidating-assets-2017-7">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>Jawbone, the company that made fitness trackers and Bluetooth speakers, is liquidating its assets,&nbsp;according to a source familiar with its plans, marking the latest casualty in the once-promising wearable device market.</p>
<p>Jawbone&nbsp;founder and CEO Hosain Rahman has started a new company called Jawbone Health Hub, which will work on medical software and hardware. The company has raised money for the new venture, but it's unclear how much, the source said.</p>
<p>Despite shuttering the business, Jawbone believes it is still worth a significant amount of money due to its pending litigation with rival Fitbit, according to the source.</p>
<p>Jawbone, which was once valued as high as $3 billion by private market investors, is the latest pioneer of wearable electronics to throw in the towel. Last year, Pebble the first maker of a smartwatch <a href="http://www.businessinsider.com/how-smartwatch-pioneer-pebble-lost-everything-2016-12">sold its assets to Fitbit in a fire sale</a>. As for Fitbit, its stock is trading at 52-week lows.</p>
<p><em>The Information</em> was the <a href="https://www.theinformation.com/jawbone-to-be-liquidated-as-rahman-moves-to-health-startup">first to report the news</a> of Jawbone's liquidation. A Jawbone spokesperson declined to comment.</p>
<p>Jawbone stopped producing its fitness trackers last year, according to sources familiar with the company. It no longer sold them as of September 2016. Jawbone sold its remaining inventory to a third-party reseller at a reduced price in order to generate much-needed revenue, sources said. The company also had trouble paying some&nbsp;vendors for their services and <a href="http://www.businessinsider.com/jawbone-cuts-ties-with-customer-service-agency-2016-9">was forced to cut ties with its external customer service agency</a>, sources said.</p>
<p>Jawbone was in the process of making a shift to making &quot;clinical-grade&quot; wearable devices that could measure vitals like blood pressure, but the company was having trouble getting the device to work properly, sources told Business Insider. It's unclear if Jawbone Health Hub will continue work on the device. Jawbone Health Hub will service current Jawbone fitness trackers. Jawbone was last valued at $1.5 billion when it raised $165 million in a down round in January 2016, <a href="https://www.recode.net/2016/1/15/11588846/as-sameer-samat-heads-back-to-google-jawbone-gets-165m-in-funding-in">according to <em>Recode</em>'s Kara Swisher</a>. Its previous valuation was about $3 billion, and it raised a total of&nbsp;about $1 billion over the years.</p>Fri, 07 Jul 2017 15:57:12 GMThttp://www.slate.com/blogs/business_insider/2017/07/07/jawbone_is_liquidating_its_assets_and_shutting_down.htmlSteve Kovach2017-07-07T15:57:12ZBusinessFitbit Competitor Jawbone Is Calling It Quits235170707001Steve KovachBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/07/jawbone_is_liquidating_its_assets_and_shutting_down.htmlfalsefalsefalseThe $3 billion company sold popular objects like fitness trackers and Bluetooth Speakers.The company was once valued at $3 billion and sold popular products like fitness trackers and Bluetooth Speakers.Ethan Miller/Getty ImagesCEO and Founder of Jawbone Hosain Rahman speaks at the 2015 International CES trade show on January 5, 2015.These Massive Package-Pickup Towers Show How Serious Walmart's E-Commerce Plans Have Becomehttp://www.slate.com/blogs/business_insider/2017/07/05/walmart_is_adding_more_self_service_kiosks.html
<p>This <a href="http://www.businessinsider.com/walmart-builds-pickup-towers-for-online-orders-2017-6">post</a> originally appeared on <a href="http://www.businessinsider.com">Business Insider.</a>&nbsp;</p>
<p>Walmart is building giant self-service kiosks in its stores that retrieve customers' online orders.</p>
<p>The <a href="http://www.businessinsider.com/walmart-built-a-giant-online-pickup-tower-2016-10">first kiosk appeared in a Walmart</a> store in Bentonville, Arkansas, last year. The company is now rolling them out to more than a dozen stores in cities including Gilbert, Arizona; Glenpool, Oklahoma; Enterprise and Auburn, Alabama; Gwinnett, Georgia; and Midlothian, Virginia.</p>
<p>The kiosks, which Walmart calls Pickup Towers, are massive—standing at least 16 feet tall and about 8 feet wide—and they are typically located near store entrances. To use the tower, customers scan a barcode located on their purchase receipt, and within 45 seconds, a door on the machine opens and the items appear on a conveyer belt.</p>
<p>A customer of the Gilbert, Arizona, Walmart store told <em>Business Insider</em> that the service is a vast improvement from the retailer's regular in-store pickup process.</p>
<p>&quot;Compared to the normal pickup of going to the back of the store, waiting for an employee to see you, then waiting for them to go in the back, this really sped things up,&quot; the customer said. &quot;Obviously being in the front of the store next to an entrance really makes it convenient. I also don't need to show security my receipt because they see me getting the item.&quot;</p>
<p>The machine's giant size is due to the fact that it holds tons of packages inside. While it requires a lot of space, it's more versatile than pickup lockers—which Walmart has also tested—because it has the ability to adjust the size of the compartments where packages are kept. Walmart recently started testing a similar concept <a href="http://www.businessinsider.com/walmart-built-a-giant-vending-machine-that-retrieves-groceries-2017-6">for online grocery orders.</a></p>
<p>The company also rolled out <a href="http://www.businessinsider.com/walmart-offers-ship-to-store-discount-2017-4">a new discount this year for shoppers who purchase items online and pick them up in stores</a>. The discount allows shoppers to save as much as $50 on the purchase of large items like flat-screen televisions.</p>Wed, 05 Jul 2017 17:40:51 GMThttp://www.slate.com/blogs/business_insider/2017/07/05/walmart_is_adding_more_self_service_kiosks.htmlHayley Peterson2017-07-05T17:40:51ZBusinessThese Massive Package-Pickup Towers Show How Serious Walmart's E-Commerce Plans Have Become235170705001walmartHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/07/05/walmart_is_adding_more_self_service_kiosks.htmlfalsefalsefalseThese massive package-pickup towers show how serious Walmat's e-commerce plans now are.We know Amazon wants to be more like Walmart. Here's how Walmart is becoming more like Amazon.Walmart.&nbsp;Amazon Isn’t the Only Threat to Blue Apron’s Earningshttp://www.slate.com/blogs/business_insider/2017/06/30/blue_apron_customer_retention_low.html
<p><em>This <a href="http://www.businessinsider.com/blue-apron-has-a-much-bigger-problem-than-amazon-2017-6">post</a> appeared on <a href="http://businessinsider.com/">Business Insid</a><a href="http://businessinsider.com/">er</a>.</em></p>
<p>Blue Apron finally went public Thursday, but the IPO didn't go quite as planned.</p>
<p>The meal-kit delivery company <a href="http://www.businessinsider.com/blue-apron-ipo-price-10-a-share-2017-6">priced its IPO</a> at $10 a share, 40 percent below the maximum it sought. In its trading debut, the shares did absolutely nothing—closing at $10 after rising slightly earlier in the day.</p>
<p>Many <a href="http://www.businessinsider.com/blue-apron-ipo-public-company-amazon-stock-price-2017-6">are blaming Amazon</a>, which shook the grocery industry with its $13.7 billion offer to buy Whole Foods earlier this month, for raining on Blue Apron's big day.</p>
<p>But investors should be wringing their hands over a much bigger issue: Blue Apron has a customer-retention problem.</p>
<p>The company is losing money on roughly 70 percent of the customers it attracts, <a href="https://www.linkedin.com/pulse/detailed-look-blue-aprons-challenging-unit-economics-daniel-mccarthy">according to an analysis</a> by Daniel McCarthy, an assistant professor of marketing at Emory University, in a post on LinkedIn. McCarthy says the company is spending ever more to lure new customers to its subscription service, but customers are sticking around for shorter spells and spending less.</p>
<p>This is problematic, since cheaply recruiting customers who stick around for an extended period is crucial to Blue Apron's business model. The company acknowledges in its <a href="https://www.sec.gov/Archives/edgar/data/1701114/000104746917004287/a2232570zs-1a.htm">IPO prospectus</a>: &quot;If we fail to cost-effectively acquire new customers or retain our existing customers, our business could be materially adversely affected.&quot;</p>
<p>Blue Apron hasn't explicitly disclosed customer churn metrics in its public filings, so McCarthy used available data and statistical modeling to back out the figures. (Head over to <a href="https://www.linkedin.com/pulse/detailed-look-blue-aprons-challenging-unit-economics-daniel-mccarthy">the LinkedIn post</a> for a detailed explanation of the methodology or to take a look at the dataset yourself.) One of his charts, which shows that 72 percent of customers could ditch the service within six months of signing up, doesn't bode well.</p>
<p>The cost of acquiring customers—spending on marketing and promotion, like all those discounts the company offers podcast listeners—&quot;should go down relatively sharply over time as a percentage of sales at healthy businesses, as sales are increasingly derived from loyal customers who have been around for a while,&quot; McCarthy wrote.</p>
<p>That doesn't appear to be happening. The chart suggests Blue Apron is struggling to retain loyal customers, which means its cost of acquiring customers will remain high or increase.</p>
<p>It's also troubling that customers who <em>are</em> sticking around tend to spend less money the longer they've been a subscriber. That means Blue Apron can't rely on its loyal customers to spend more and compensate for all the churners who try the service then quickly opt out.</p>
<p>But perhaps most worrisome is that Blue Apron doesn't break even on about 70 percent of its customers, according to McCarthy's calculations.</p>
<p>He estimates that each customer acquired cost the company $147 in the first quarter of 2017&nbsp;and that customers would have to stick around for 4.5 months to break even at that price. So far, they're not.</p>
<p>Here's McCarthy:</p>
<blockquote>
However, almost 70 percent of customers churn by this time and thus do not break even. Even though Blue Apron turns a profit on the remaining 30 percent of customers, the break-even point is moving farther away with every new cohort due to declining revenue and growing [customer acquisition cost] for newer customers.
</blockquote>
<p>Amazon breathing down your neck wouldn't make life easier. But if Blue Apron is already struggling to acquire loyal, revenue-generating consumers at reasonable costs, Amazon's entry into the grocery business shouldn't be the firm's most dire concern.</p>
<p>Even at its valuation of $1.9 billion—which is below its latest financing round as a private company—McCarthy thinks Blue Apron is significantly overvalued.</p>
<p>&quot;I still can't seem to get a valuation above $1.6 billion, even with some very optimistic assumptions,&quot; McCarthy wrote to <em>Business Insider</em>. &quot;If my most optimistic assumptions can't get me north of $8.40, this still seems quite expensive to me at $10.&quot;</p>Fri, 30 Jun 2017 19:41:00 GMThttp://www.slate.com/blogs/business_insider/2017/06/30/blue_apron_customer_retention_low.htmlAlex Morell2017-06-30T19:41:00ZBusinessAmazon Isn’t the Only Threat to Blue Apron’s Earnings235170630001amazonbusinessAlex MorellBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/30/blue_apron_customer_retention_low.htmlfalsefalsefalseAmazon isn't the only threat to Blue Apron's earnings:Competition is a factor, but the company also needs to change its business strategy.Scott Eisen/Getty ImagesA Blue Apron box waits to be opened.&nbsp;Why Nike Is Finally Selling Its Goods on Amazonhttp://www.slate.com/blogs/business_insider/2017/06/29/nike_begins_selling_on_amazon.html
<p>Even the world's largest sportswear maker can't deny the power of the world's largest ecommerce platform.</p>
<p>Nike will&nbsp;begin selling some products on Amazon next month, but the deal isn't necessarily about growing volume. Instead, Nike's goal is to work more closely with Amazon to crack down on third-party sellers, <a href="https://www.wsj.com/articles/how-nike-resisted-amazons-dominance-for-years-and-finally-capitulated-1498662435">according to the <em>Wall Street Journal</em>'s Laura Stevens and Sara Germano</a>.</p>
<p>Nike is already the No. 1 clothing brand on Amazon even though it does not sell directly on the website, according to Morgan Stanley research. Nike products are&nbsp;instead sold by unauthorized third party resellers, which Amazon still profits from by taking fees for facilitating the sale. Cottage industries have sprung up, with entrepreneurs buying up large stocks of Nike product to unload on the website.</p>
<p>“That’s how I make my money. Amazon is the No. 1 marketplace. Nike is the No. 1 brand,” one such Amazon seller told the <em>Journal</em>. “If they’re not in bed together, that’s my opportunity.&quot;</p>
<p>As part of the deal between Amazon and Nike, Amazon will monitor its website and no longer allow third parties to sell Nike merchandise, the <em>Journal</em> reports. According <em>to </em>the<em>&nbsp;Journal</em>, the initial amount of product it will actually offer on Amazon is small.</p>
<p>Still, cutting off the flow of reselling on Amazon will likely lead would-be Nike buyers to Nike's own website or retailers like Foot Locker if they can't find what they're looking for on Amazon. This helps Nike better control&nbsp;its product and how it appears on Amazon—a marketplace with large exposure to potential customers and usually&nbsp;the <a href="https://www.bloomberg.com/news/articles/2016-09-27/more-than-50-of-shoppers-turn-first-to-amazon-in-product-search">first place customers</a> search when looking&nbsp;to shop.</p>
<p>This fits with Nike's broader plan to tighten its grip on brand&nbsp;and image as it focuses more on direct-to-consumer and moves away from wholesale.</p>Thu, 29 Jun 2017 22:09:02 GMThttp://www.slate.com/blogs/business_insider/2017/06/29/nike_begins_selling_on_amazon.htmlDennis Green2017-06-29T22:09:02ZBusinessWhy Nike Is Finally Selling Its Goods on Amazon235170629001Dennis GreenBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/29/nike_begins_selling_on_amazon.htmlfalsefalsefalseWhy Nike is finally selling its good on Amazon.The company wants to combat third-party sellers.Drew Angerer/Getty ImagesDoesn't like third-party sellers.Ikea Is Looking Into Whether This Stainless Steel Bowl Sets Food on Firehttp://www.slate.com/blogs/business_insider/2017/06/22/ikea_investigates_stainless_steel_bowls.html
<p>&nbsp;</p>
<p><em>This <a href="http://www.businessinsider.com/ikea-bowl-sets-on-fire-2017-6">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Ikea is investigating a claim that one of its bowls may set things on fire.</p>
<p>A&nbsp;Swedish man says he&nbsp;was eating grapes from an&nbsp;Ikea &quot;<a href="http://www.ikea.com/us/en/catalog/products/20057255/">Blanda Blank</a>&quot; stainless steel serving bowl this weekend when he began to smell smoke, the Swedish tabloid <a href="http://www.aftonbladet.se/nyheter/a/zq7nK/ikea-skalen-satte-eld-pa-richards-vindruvor">Aftonbladet</a> reported, according to a translation&nbsp;by <a href="https://www.thelocal.se/20170620/video-ikea-bowl-sets-swedes-grapes-on-fire">The Local</a>.</p>
<p>&quot;I saw it was burning in the grape bowl. How is that possible, I thought. Then I saw there was one intense point where (the sun) hit the twigs, and that's where it started,&quot; Richard Walter told <a href="https://www.thelocal.se/20170620/video-ikea-bowl-sets-swedes-grapes-on-fire">Aftonbladet</a>.</p>
<p>To demonstrate what had happened, Walter recorded&nbsp;a video showing the bowl setting fire to a piece of paper. The video has been viewed more than 18,000 times.</p>
<p>Check&nbsp;it out:</p>
<p>The bowl, which comes in a variety&nbsp;of sizes, costs&nbsp;between $1.99 and $11.99.</p>
<p>Ikea is reportedly now investigating the claim that sunlight reflecting off the bowl's surface can start fires.</p>
<p>&quot;We take this information very seriously and will now investigate what happened,&quot; an Ikea spokesperson told <a href="https://www.thelocal.se/20170620/video-ikea-bowl-sets-swedes-grapes-on-fire">Aftonbladet</a>.</p>
<p>On Ikea's US website, users say the bowl is a&nbsp;&quot;great size for serving or prep cooking.&quot; There is no mention of&nbsp;fires caused by the bowl.</p>
<p>Ikea did not respond to a request for comment.</p>Thu, 22 Jun 2017 17:14:00 GMThttp://www.slate.com/blogs/business_insider/2017/06/22/ikea_investigates_stainless_steel_bowls.htmlMary Hanbury2017-06-22T17:14:00ZBusinessIkea Is Looking Into Whether This Stainless Steel Bowl Sets Food on Fire235170622001ikeaMary HanburyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/22/ikea_investigates_stainless_steel_bowls.htmlfalsefalsefalseIkea is looking into whether this stainless steel bowl sets food on fire.Um.Dan Kitwood/Getty ImagesWatch out for those Ikea bowls.Why Walmart Has Nothing to Fear From Amazon and Whole Foodshttp://www.slate.com/blogs/business_insider/2017/06/21/walmart_isn_t_actually_threatened_by_amazon_s_whole_foods_bid.html
<p>Investors are grossly overestimating the impact to Walmart of Amazon's bid for Whole Foods, according to Moody's.</p>
<p>Amazon's offer of $13.7 billion, or $42 a share, for the natural and organic grocery chain won't give the ecommerce&nbsp;giant&nbsp;&quot;any discernible edge&quot; over Walmart, writes Charlie O'Shea, lead analyst for Moody's Investors Service, in a research note published Wednesday.</p>
<p>&quot;We have been asked by investors and media over the past few days, in almost breathless tones, 'What does Walmart do?' and 'Isn’t Walmart scared?'&quot; O'Shea said. &quot;Realistically speaking, a challenged $16 billion food retailer is merely changing owners. And Walmart, already the world’s largest retailer, also is the world’s biggest grocer.&quot;</p>
<p>Walmart's stock fell more than 4 percent after news of the Amazon-Whole Foods deal emerged last week, and it has yet to recover.</p>
<p>But Walmart is opening new stores while other retailers are shrinking, and Moody's expects its food business to &quot;accelerate at a rapid pace, with buy-online/pick-up-in-store its latest weapon.&quot;</p>
<p>With more than 5,330 locations throughout the US that are within 10 miles of 90 percent of the population, there's no company better positioned than Walmart to dominate the grocery industry, he said.</p>
<p>He described Walmart's Neighborhood Market stores—which are much smaller than its Supercenters and primarily focus on groceries and pharmacy—as the &quot;linchpin&quot; to&nbsp;Walmart's success.</p>
<p>The company has doubled the number of Neighborhood Market stores to 700 over the last three years.</p>
<p>&quot;The growth of the Neighborhood Market is the biggest risk for traditional supermarkets, including Whole Foods,&quot; he wrote.</p>
<p>The smaller-format stores are convenient for fill-in trips between visits to Supercenters or Sam's Club, and prices are comparable to Walmart's Supercenter prices.</p>
<p>&quot;For a segment that is dependent on convenience, ease, and location, we believe Walmart’s dominance in this segment will only increase over time, and that if online grocery delivery can ever reach scale, Walmart is the retailer that will benefit the most as it has the most complete distribution network,&quot;&nbsp;O'Shea wrote.</p>
<p>Amazon's bid to buy Whole Foods isn't actually a threat to Walmart at all, but just an indication of the&nbsp;Amazon's recognition that it would never be able to scale its food business without a brick-and-mortar presence, he said.</p>Wed, 21 Jun 2017 18:43:47 GMThttp://www.slate.com/blogs/business_insider/2017/06/21/walmart_isn_t_actually_threatened_by_amazon_s_whole_foods_bid.htmlHayley Peterson2017-06-21T18:43:47ZBusinessWhy Walmart Has Nothing to Fear From Amazon and Whole Foods235170621001walmartwhole foodsamazonHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/21/walmart_isn_t_actually_threatened_by_amazon_s_whole_foods_bid.htmlfalsefalsefalseWhy Walmart has nothing to fear from Amazon and Whole FoodsIt got beat up on Wall Street after Amazon's purchase.TIMOTHY A. CLARY/AFP/Getty ImagesThe Whole Foods Market in Midtown New York is seen on June 16, 2017. Amazon announced June 16, 2017 it will acquire Whole Foods Market.Why Facebook No Longer Promotes Solidarity Filters for Profile Pictures After a Terrorist Attackhttp://www.slate.com/blogs/business_insider/2017/06/08/facebook_abandons_profile_photo_filters_after_events.html
<p>As details of <a href="http://www.businessinsider.com/manchester-explosion-pictures-video-ariana-grande-concert-2017-5/#at-1054-pm-local-time-greater-manchester-police-announced-via-twitter-that-officers-were-responding-to-reports-of-an-incident-at-manchester-arena-where-the-singer-ariana-grande-was-finishing-her-concert-1">the bomb blast</a> at an Ariana Grande concert in Manchester, England, on May 22 and then of <a href="http://www.businessinsider.com/photos-london-attacks-2017-6">the knife and truck attack in London</a> on Saturday night started flooding social media, one thing was noticeably absent from Facebook: solidarity filters. The filters, which let users lay a translucent flag of an attacked country over their profile picture, were first introduced by Facebook after the <a href="http://www.businessinsider.com/displays-solidarity-paris-attacks-newspaper-front-pages-2015-11">coordinated bombings and shootings in Paris</a> that left more than 130 people dead in November 2015.Along with the #prayforparis and #jesuisparis hashtags, the solidarity gesture quickly picked up speed—more than 120 million people used the French flag overlay in the first three days, a Facebook representative told Business Insider.</p>
<p>But Facebook's swift decision to promote the solidarity gesture generated backlash in the form of <a href="https://www.nytimes.com/2015/11/16/world/middleeast/beirut-lebanon-attacks-paris.html">sharp criticism</a> from many who pointed out the lack of such compassionate gestures for crises in Lebanon and Syria. Facebook hasn't promoted a solidarity filter since, the Facebook representative said.</p>
<p>The community response to the French flag filter led Facebook to rethink its strategy on promoting solidarity causes, the representative said, with an anxiety that the company may appear to be <a href="http://www.independent.co.uk/voices/got-a-french-flag-on-your-facebook-profile-picture-congratulations-on-your-corporate-white-supremacy-a6736526.html">ranking the importance of human suffering</a> depending on which events generated filters and which didn't. Facebook's Safety Check feature <a href="https://www.nytimes.com/2016/12/29/world/asia/facebook-safety-check-bangkok.html">has received similar criticism</a>, much of which has been mitigated by the company's decision to turn over activating the feature to a third party.</p>
<p>In April, Facebook took a new tactic with filters, introducing the new Camera Effects platform, which allows users to create their own frames and flag overlays. The platform also offers the frame-browsing option, in which people can pick from popular &quot;cause&quot; frames created by others. Facebook is promoting Camera Effects as a way for people to use their own flag filters to &quot;express support and unify behind the causes and movements they care about&quot; rather than causes that are deemed important by others, the representative said.</p>
<p>Users have created filters and temporary profile pictures for major terrorist attacks over the past year, including <a href="http://www.refinery29.com/2017/05/155841/facebook-profile-photo-manchester-filter">a heart with a Union Jack</a> for the Manchester attack and <a href="https://www.facebook.com/profilepicframes">a &quot;We Stand With London&quot; frame</a> following the London attacks. But no one user-generated solidarity image or frame has, according to the Facebook rep, matched the millions of people who changed to a filter that has been promoted by the site (such as <a href="https://www.washingtonpost.com/news/the-intersect/wp/2015/06/29/more-than-26-million-people-have-changed-their-facebook-picture-to-a-rainbow-flag-heres-why-that-matters/?utm_term=.25dd52000922">the 26 million who used the rainbow flag overlay</a> that Facebook promoted after the Supreme Court ruled to legalize same-sex marriage across the US in June 2015). The only crowdsourced frame to come close was a Mother's Day frame created by user Susan G. Komen last year that was used by more than 24 million people.</p>
<p>Some observers have suggested that Facebook's decision to not offer official solidarity filters has been mirrored by lessening user interest in changing their profile picture as a whole for major events. While Facebook's promotion contributed to the popularity of certain filters, the frequency of terrorist attacks has also made it difficult for users to respond to each one.</p>
<p>&quot;That shock meant people want to do something and doing something on Facebook meant putting a French flag on your Facebook picture,&quot; Jon Worth, a Berlin-based political blogger who writes often about digital solidarity movements, told Business Insider in an email. &quot;But since then the incidents have come thick and fast—and while each loss of life is indeed a tragedy, the repetitive nature of these attacks in Europe has left people jaundiced.&quot;</p>
<p>The popularity of Facebook filters also tends to function in a cycle—a 2015 study found that people <a href="http://www.livescience.com/52837-french-flags-on-facebook-does-it-matter.html">were more likely to change their Facebook profile</a> in support of a cause after they saw eight other friends do so first.</p>
<p>Artist Tom Galle, who cocreated All Flags, an overlay filter of numerous flags made in response to what he and his partners felt was selective compassion after the Paris attacks of 2015, told Business Insider that while people still asked him to add different flags after new terrorist attacks, he had observed a general decline in what he calls &quot;group solidarity&quot; posts.</p>
<p>&quot;I do think it is time to move on to other forms of internet activism that have more effect,&quot; Galle said. &quot;A problem I notice is that in a lot of cases people refuse to look at the big picture and think of ways to unite and attack the problem at its source.&quot;</p>Thu, 08 Jun 2017 17:49:33 GMThttp://www.slate.com/blogs/business_insider/2017/06/08/facebook_abandons_profile_photo_filters_after_events.htmlVeronika Bondarenko2017-06-08T17:49:33ZBusinessWhy Facebook No Longer Promotes Solidarity Filters for Profile Pictures After a Terrorist Attack235170608001facebook news feedVeronika BondarenkoBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/08/facebook_abandons_profile_photo_filters_after_events.htmlfalsefalsefalseWhy Facebook no longer promotes solidarity filters for profile pictures after a terrorist attack.The company was being accused of ranking human suffering.Paul Marotta/Getty ImagesZuckerberg delivers the commencement address at the Alumni Exercises at Harvard's 366th commencement exercises on May 25, 2017.What Is Augmented Reality Actually Good For? Apple Just Asked Software Developers to Figure It Out.http://www.slate.com/blogs/business_insider/2017/06/06/apple_s_arkit_asks_developers_to_figure_out_the_future_of_augmented_reality.html
<p>SAN JOSE, California—Judging by crowd reactions in the cavernous auditorium where Apple addressed its developer community on Monday, the most exciting thing Apple revealed wasn't a new iPad or <a href="http://www.businessinsider.com/apple-wwdc-keynote-announcements-live-blog-iphone-ipad-pro-2017-2017-6">a fully loaded iMac</a>, but a wonky set of developer tools called ARKit; the AR stands for augmented reality.</p>
<p>Augmented reality is an emerging and hot technology that uses advances in camera and graphics technology to integrate the digital world with the real world. Think of <em>Pok&eacute;mon Go</em>—hold up your phone, a Pok&eacute;mon appears in the real world, and you can digitally catch it.</p>
<p>Big tech companies like Apple are investing in AR because it's widely seen in the industry as the next big platform after the smartphone, and it could eventually end up in smart glasses that replace all the screens in your life. And with ARKit, Apple just took a big lead in the young field. Apple's new ARKit software makes it significantly easier for software makers to make these kinds of apps. Instead of doing all the hard computational work of say, figuring out where the tabletop is, developers can instead use Apple's software to do that and spend their time building a useful application around it.</p>
<p>But Apple has no idea what those applications could look like. Or if Apple has a vision for what a fully augmented reality would be like, it didn't show it on Monday. Instead, it passed the buck to its developers.</p>
<p>There are a lot of ideas about the short- and mid-term uses for augmented-reality technology. (Some companies love to debate jargon about whether sufficiently advanced AR would become &quot;mixed reality&quot; or another term. I'm using &quot;augmented reality&quot; as a catchall term here.) Some companies have already released a pair of smart glasses aimed giving big companies or schools a tool for instruction, like Microsoft with its HoloLens. Other companies like Snap and Facebook are using AR to add whimsy — puppy-face filters—to selfies and other photography. And some companies like Magic Leap see AR as a gaming platform.</p>
<p>It's unclear how Apple wants its developers to use its augmented-reality tools. Are they tools for gaming? One of Apple's examples was an improved version of <em>Pok&eacute;mon Go</em> in which the Pok&eacute;mon wouldn't float anymore. Or are they professional tools, like Ikea's app that Apple highlighted that lets you see how furniture would fit in your room?</p>
<p>The announcement on Monday seemed to be geared toward Apple being able to claim an early lead in the nascent technology—CEO Tim Cook even said it would be the largest AR platform in the world. Apple released two tech demos to show off what ARKit can do.</p>
<p>One, developed by Apple, allows a user to place objects, like a coffee cup or a lamp, on a table. It was a pure tech demo. There's no deeper point to putting the coffee cup on the table, and although it's technically impressive it was showing off that Apple's technology can do a thing, but not a thing people want to do. The other tech demo was a playable version of a &quot;Star Wars&quot; board game built in tandem with Industrial Light and Magic. It looked like fun, but it was still a virtual board game — a toy — and not exactly a concept that would take the world by storm.</p>
<p>Apple inspires such hope in the AR world not because of its prowess in computer vision, inside-out tracking, or any of the important component technologies baked into ARKit — these people see Apple as a boost for their tech because it has earned a reputation for smart design.</p>
<p>One fear about a future augmented reality is that it would look like this:</p>
<p>Apple's executives would never let that happen. Apple is too invested in the user experience to let AR become a distraction or a negative. So what people want to see from Apple is answers to questions such as: What are the top uses for AR? Is AR best for providing small bits of information or big, splashy graphics? Why would most people have AR experiences every day, as Cook <a href="http://www.businessinsider.com/tim-cook-playbook-for-apples-next-big-thing-2016-11">has predicted</a>?</p>
<p>Apple did not shed a lot of light on that on Monday. Instead, it gave its legions of developers the tools to make what ultimately will be AR experiments, hoping that one developer will find the Uber or Snapchat of augmented reality — and it will run on the iPhone.</p>
<p>I suspect people at Apple have a grand, unified theory of augmented reality — or at least a more detailed vision than the company has revealed. Maybe they're just waiting for the iPhone 8 launch this fall <a href="http://www.businessinsider.com/tim-cook-playbook-for-apples-next-big-thing-2016-11">to lay it out</a>.</p>Tue, 06 Jun 2017 18:46:00 GMThttp://www.slate.com/blogs/business_insider/2017/06/06/apple_s_arkit_asks_developers_to_figure_out_the_future_of_augmented_reality.htmlKif Leswing2017-06-06T18:46:00ZBusinessWhat Is Augmented Reality Actually Good For? Apple Just Asked Software Developers to Figure It Out.235170606001appleKif LeswingBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/06/apple_s_arkit_asks_developers_to_figure_out_the_future_of_augmented_reality.htmlfalsefalsefalseWhat is augmented reality actually good for? Apple just asked developers to figure it out.It has to go somewhere after Pokémon Go.Josh Edelson/AFP/Getty ImagesApple CEO Tim Cook enters the stage for a keynote address during the Apple Worldwide Developer Conference in San Jose, California on Monday.&nbsp;Qataris, Fearing an Imminent Food Shortage, Are Packing the Nation’s Supermarketshttp://www.slate.com/blogs/business_insider/2017/06/05/qataris_are_stocking_up_on_food_and_water.html
<p>Qatari residents awoke on Monday to learn that several major Gulf State nations&nbsp;had <a href="http://www.businessinsider.com/r-saudi-arabia-egypt-uae-sever-ties-to-qatar-over-terrorism-2017-6">cut all diplomatic ties</a> with their&nbsp;country. Along with several other&nbsp;countries in the Middle East, Egypt, Saudi Arabia, the United Arab Emirates, and Bahrain have all announced the decision to sever their relationship&nbsp;with Qatar due to its government's support of Islamist groups and Iran. &quot;The measures that have been taken by Saudi Arabia, the UAE and the other states are the equivalent of an economic&nbsp;blockade,&quot; Jean-Marc Rickli, head of&nbsp;global risks and resilience at the Geneva Centre for Security Policy, told <em>Business Insider</em>.</p>
<p>With rising uncertainty about how the sanctions will affect the country's food supplies,&nbsp;many Qataris <a href="https://dohanews.co/qatar-residents-rush-to-stock-up-on-food-after-border-closed/">have already started stocking up</a> on supplies at their local supermarkets.&nbsp;Along with giving Qatari citizens two weeks to leave&nbsp;those countries and shutting down Qatar's only land border with Saudi Arabia,&nbsp;leaders of the Arab states <a href="http://www.reuters.com/article/us-gulf-qatar-idUSKBN18W0DQ">have moved</a> to isolate the country by land, sea, and air. The Arab world's decision to cut diplomatic ties with the oil-rich nation&nbsp;comes two weeks after President Donald Trump <a href="http://www.reuters.com/article/us-usa-trump-saudi-idUSKCN18H00U">called on the Arab countries</a> to do more to fight extremism in the Middle East. Egypt's state news agency <a href="http://www.businessinsider.com/r-saudi-arabia-egypt-uae-sever-ties-to-qatar-over-terrorism-2017-6">announced</a> that Qatar &quot;threatens Arab national security and sows the seeds of strife and division within Arab societies according to a deliberate plan aimed at the unity and interests of the Arab nation.&quot;</p>
<p>Amid rising political and economic uncertainty, Qatari residents streamed to&nbsp;nearby supermarkets in order to stock up on food.&nbsp;Even though Qatar's foreign affairs ministry <a href="https://mofa.gov.qa/%D8%AC%D9%85%D9%8A%D8%B9-%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1-%D8%A7%D9%84%D9%88%D8%B2%D8%A7%D8%B1%D8%A9/%D8%A7%D9%84%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84/2017/06/04/%D9%82%D8%B7%D8%B1-%D8%AA%D8%B9%D8%B1%D8%A8-%D8%B9%D9%86-%D8%A7%D8%B3%D9%81%D9%87%D8%A7-%D9%84%D9%82%D8%B1%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A%D9%86-%D9%82%D8%B7%D8%B9-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82%D8%A7%D8%AA">told people</a> that the rift would not alter life for ordinary Qatari people, many chose to stock up&nbsp;on supplies of eggs, milk, water, and rice, <em>Doha News</em>&nbsp;<a href="https://dohanews.co/qatar-residents-rush-to-stock-up-on-food-after-border-closed/">reports</a>.&nbsp;“I’ve never seen anything like it—people have trolleys full of food and water,&quot; an observer at the supermarket told the outlet.</p>
<p>As a small country, Qatar is highly dependent&nbsp;on food brought&nbsp;from other parts of the world, Rickli said. Now that other Gulf leaders have taken such a strong position, food prices could go up, foreign banks may stop&nbsp;operating, travel could become difficult, and Qatar could become more and more isolated from the Arab world. “These are issues that could affect your daily life,&quot; Rickli said.</p>
<p>Over the last five years, Gulf countries <a href="http://www.aljazeera.com/indepth/features/2017/06/timeline-qatar-gcc-disputes-170605110356982.html">have frequently criticized</a> Qatar for its support of the Muslim Brotherhood Islamist Group — and even temporarily withdrew their ambassadors from Qatar in 2014. But, Rickli said, while the 2014 fallout had mostly stuck to politics, the current rift will have widespread economic implications when it comes to food security and trade.</p>
<p>While Saudi and UAE&nbsp;banks <a href="https://www.nytimes.com/reuters/2017/06/05/business/05reuters-gulf-qatar-emirates-banks.html?_r=0">have not yet received specific instructions</a> on dealing with their&nbsp;Qatari clients, many people <a href="http://www.thedailybeast.com/qatar-no-justification-for-cutting-diplomatic-ties?via=desktop&amp;source=copyurl">also rushed to withdraw cash</a> from their accounts at&nbsp;local banks and ATMs. &quot;In 2014, it was a diplomatic&nbsp;crisis.&nbsp;Now it extends from the diplomatic realm into the&nbsp;economic realm,&quot; Rickli said.</p>
<p>During his two terms, Barack Obama has taken <a href="http://www.reuters.com/article/us-usa-trump-gulf-idUSKBN1571VN">a largely passive approach</a> to Gulf&nbsp;State&nbsp;tensions. Meanwhile, Trump's vociferous calls against Islamist terrorism emboldens countries like Saudi Arabia and Egypt in their Qatar blockade, Rickli said. “I don’t think they will settle for less than a drastic policy change in Doha,&quot; he said, adding that Qatar now faces enormous pressure in its government's stances on Iran and various militant groups.</p>
<p>But as the world waits to see whether the blockade and diplomatic fallout will lead the Qatar government to shift its&nbsp;policy, ordinary Qataris are preparing for months of food scarcity and financial uncertainty that could come. “For the Qataris, this will have concrete consequences on their day-to-day life,&quot;&nbsp;Rickli said.</p>Mon, 05 Jun 2017 19:40:56 GMThttp://www.slate.com/blogs/business_insider/2017/06/05/qataris_are_stocking_up_on_food_and_water.htmlVeronika Bondarenko2017-06-05T19:40:56ZBusinessQataris, Fearing an Imminent Food Shortage, Are Packing the Nation’s Supermarkets235170605001Veronika BondarenkoBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/06/05/qataris_are_stocking_up_on_food_and_water.htmlfalsefalsefalseQataris, fearing an imminent food shortage, are packing the nation's supermarkets.The country is heavily dependent on food imports from other countries in the Middle East.AFP/Getty ImagesCould economic isolation turn Qatar into a food desert?Abercrombie Is Putting Itself Up for Salehttp://www.slate.com/blogs/business_insider/2017/05/10/abercrombie_s_shares_soared_after_putting_itself_up_for_sale.html
<p><em>This <a href="http://www.businessinsider.com/abercrombie-surges-after-putting-itself-up-for-sale-2017-5">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Abercrombie &amp; Fitch shares soared by 14 percent to $14.50 ahead of Wednesday's opening bell after a <a href="http://www.reuters.com/article/us-abercrombie-m-a-idUSKBN18601I">Reuters report</a> said the teen retailer hired an investment bank to assess takeover interest.</p>
<p>Any potential suitor should be able to get a favorable price for the company, at least compared with a year ago. Abercrombie has plunged by 61 percent since reaching a 16-month high in March 2016.</p>
<p>The decision comes at a time when U.S. retailers are closing stores and <a href="http://www.businessinsider.com/the-retail-apocalypse-is-a-new-normal-2017-5">filing for bankruptcy at rates not seen since the financial crisis</a>. As online sellers continue to take a bite out of their brick-and-mortar counterparts, companies like Abercrombie are scrambling to stay afloat.</p>
<p>The company announced back in early March that it was closing 60 U.S. stores, bringing its total number down to about 674, a 20 percent drop since 2013. The decision came after a dismal fourth quarter in which same-store sales at its namesake brand declined by 13 percent. Its next quarterly earnings report is scheduled for May 25.</p>
<p>Abercrombie has been trying to win back customers by revamping its brand and redesigning its stores to be brighter and less nightclubby. In another major shift, the retailer stopped printing logos on everything in response to teens' shifting preferences for clothing without any identifiers.</p>
<p>Sears, Macy's, JCPenney, and more than a dozen other national retailers have also announced mass store closings this year. The total now stands at more than 3,200 stores this year.</p>
<p>Abercrombie has hired the investment bank Perella Weinberg Partners to handle any potential deal, though there is no certainty that one will occur, according to the Reuters report.</p>
<p>See Also: <a href="http://www.businessinsider.com/the-retail-apocalypse-is-a-new-normal-2017-5">A $59 billion investor just issued a dire warning about the retail apocalypse</a></p>Wed, 10 May 2017 15:36:07 GMThttp://www.slate.com/blogs/business_insider/2017/05/10/abercrombie_s_shares_soared_after_putting_itself_up_for_sale.htmlJoe Ciolli2017-05-10T15:36:07ZBusinessAbercrombie Is Putting Itself Up for Sale235170510001retailJoe CiolliBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/05/10/abercrombie_s_shares_soared_after_putting_itself_up_for_sale.htmlfalsefalsefalseAbercrombie is putting itself up for sale.The decision comes at a time when retailers are closing stores and filing for bankruptcy at rates not seen since the financial crisis.Photo by Justin Sullivan/Getty ImagesBumble Bee Will Plead Guilty to Fixing Canned Tuna Priceshttp://www.slate.com/blogs/business_insider/2017/05/09/bumble_bee_will_pay_25_million_for_a_canned_tuna_price_fixing_scheme.html
<p><em>This <a href="http://www.businessinsider.com/bumble-bee-price-fixing-2017-5">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>You may have paid more than necessary for canned fish at some point in the last few years. Bumble Bee has agreed to plead guilty for its involvement in fixing shelf-stable tuna fish, the Department of Justice said in a <a href="https://www.justice.gov/opa/pr/bumble-bee-agrees-plead-guilty-price-fixing">statement</a> on Monday.</p>
<p>Bumble Bee conspired with other companies to&nbsp;&quot;fix, raise, and maintain prices of packaged seafood,&quot; the DoJ alleged in&nbsp;its <a href="https://www.justice.gov/opa/press-release/file/964856/download">charge</a>. The DoJ said the price-fixing took place from around the first quarter of 2011 through at least&nbsp;the fourth quarter of 2013. It was unaware of the exact timing.</p>
<p>Bumble Bee has agreed to pay a $25 million criminal fine that could be increased to as much as $81.5 million if the company is sold, subject to some terms and conditions.</p>
<p>Andrew Finch, the acting assistant attorney general in the DOJ's antitrust division, said the charge is the third to be filed in an ongoing investigation into price fixing among the largest suppliers of packaged seafood.</p>
<p>This comes after&nbsp;a former&nbsp;Bumble Bee executive was placed on special leave after court documents showed he had agreed to fix packaged-seafood prices. Walter Scott Cameron, the former senior vice president of sales, talked to representatives of other major packaged seafood producers about fixing prices, <a href="http://money.cnn.com/2016/12/07/news/companies/bumble-bee-tuna-price-fixing/?iid=EL">CNN</a> reported. </p>
<p>Bumble Bee did not immediately respond to a request for comment.</p>
<p>See Also: <a href="http://www.businessinsider.com/retail-earnings-preview-q1-2017-5">Wall Street is expecting the worst of the retail apocalypse</a></p>Tue, 09 May 2017 15:32:01 GMThttp://www.slate.com/blogs/business_insider/2017/05/09/bumble_bee_will_pay_25_million_for_a_canned_tuna_price_fixing_scheme.htmlAkin Oyedele2017-05-09T15:32:01ZBusinessBumble Bee and Other Seafood Packagers Have Been Fixing Tuna Prices, According to the DOJ235170509001food pricesAkin OyedeleBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/05/09/bumble_bee_will_pay_25_million_for_a_canned_tuna_price_fixing_scheme.htmlfalsefalsefalseBumble Bee is pleading guilty to charges that it fixed canned tuna prices.The charge was part of an ongoing investigation into price fixing among the largest suppliers of packaged seafood.Photo by Mark Kolbe/Getty ImagesFacebook Says It Shouldn’t Have Told an Advertiser How to Reach Insecure Teenshttp://www.slate.com/blogs/business_insider/2017/05/01/facebook_says_its_research_into_determining_stress_and_anxiety_in_teens.html
<p><em>This <a href="http://www.businessinsider.com/facebook-showed-advertiser-how-to-reach-emotionally-insecure-teens-2017-5">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Facebook has responded to&nbsp;a <a href="http://www.theaustralian.com.au/business/media/digital/facebook-targets-insecure-young-people-to-sell-ads/news-story/a89949ad016eee7d7a61c3c30c909fa6">report by <em>The Australian</em></a> that said the company showed at least one advertiser how to reach emotionally &quot;insecure&quot; and vulnerable teens on its network.</p>
<p>A&nbsp;23-page presentation shared with &quot;one of Australia’s top four banks&quot; showed Facebook's ability to understand when users as young as 14 are feeling emotions like “stressed,” “defeated,” “overwhelmed,” and “anxious,&quot; according to <em>The Australian</em>.</p>
<p>“Anticipatory emotions are more likely to be expressed early in the week, while reflective emotions increase on the weekend,” according to the leaked Facebook&nbsp;presentation. “Monday-Thursday is about building confidence; the weekend is for broadcasting achievements.”</p>
<p>In <a href="https://newsroom.fb.com/news/h/comments-on-research-and-ad-targeting/">a company blog post</a>, Facebook called the sharing of the research an &quot;oversight&quot; and said that it didn't follow internal review guidelines. Facebook also said that the data was collected anonymously and that it has never been used to target ads.</p>
<p>&quot;Facebook does not offer tools to target people based on their emotional state,&quot; the company said on Sunday. &quot;The analysis done by an Australian researcher was intended to help marketers understand how people express themselves on Facebook. It was never used to target ads and was based on data that was anonymous and aggregated.&quot;</p>
<p>A Facebook spokesperson declined to comment further to Business Insider on Monday or say whether the research had been shared outside of Australia.</p>
<p>Even if Facebook hasn't allowed advertisers to target young people based on their emotions, its sharing of related research highlights the kind of data the company collects about its nearly 2 billion users.</p>
<p>Facebook has come under fire for overstepping its ad targeting capabilities and&nbsp;collection of user data in the past. The social network <a href="http://www.businessinsider.com/facebook-getting-tougher-on-discriminatory-ads-2017-2?amp">recently made changes</a> to prevent discriminatory targeting of specific ads based on race. And&nbsp;Facebook <a href="http://www.businessinsider.com/facebook-study-emotional-states-transfer-2014-6">came under fire in 2014</a> when its researchers tweaked the News Feed's algorithms&nbsp;to manipulate users' emotions.</p>
<p>See Also: <a href="http://www.businessinsider.com/facebook-and-google-dominate-ad-industry-with-a-combined-99-of-growth-2017-4">Facebook and Google completely dominate the digital ad industry</a></p>Tue, 02 May 2017 01:40:12 GMThttp://www.slate.com/blogs/business_insider/2017/05/01/facebook_says_its_research_into_determining_stress_and_anxiety_in_teens.htmlAlex Heath2017-05-02T01:40:12ZBusinessFacebook Says It Shouldn’t Have Told an Advertiser How to Reach Insecure Teens235170501001facebookAlex HeathBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/05/01/facebook_says_its_research_into_determining_stress_and_anxiety_in_teens.htmlfalsefalsefalseFacebook said it should not have told advertisers how to reach emotionally vulnerable teens.Ya think?Photo by Justin Sullivan/Getty ImagesMark Zuckerberg in April 2017 in San Jose, California.&nbsp;Apple Pledges to Stop Using Materials From Mines in iPhoneshttp://www.slate.com/blogs/business_insider/2017/04/20/apple_announced_a_pledge_to_make_iphones_from_recycled_materials_without.html
<p><em>This <a href="http://www.businessinsider.com/apple-said-it-will-stop-using-material-from-mines-in-its-iphones-but-it-cant-do-it-yet-2017-4">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Apple has pledged to make iPhones out of entirely recycled materials in the future,&nbsp;although it's not quite there yet.</p>
<p><a href="https://news.vice.com/story/apple-promises-to-stop-mining-minerals-to-make-iphones-it-just-isnt-sure-how-yet">Vice News reported on Wednesday</a> that&nbsp;Apple has publicly announced that it wants to stop using materials sourced from mines. The announcement was made in <a href="https://images.apple.com/environment/pdf/Apple_Environmental_Responsibility_Report_2017.pdf">Apple's 2017 environmental responsibility report</a>, which tracks the company's green credentials.</p>
<p>&quot;We believe our goal should be a closed-loop supply chain, where products are built using only renewable resources or recycled material,&quot; the report said.</p>
<p>Vice News interviewed Apple's&nbsp;vice president of environment, policy and social initiatives Lisa Jackson about the company's new goal. &quot;We're actually doing something we rarely do, which is announce a goal before we've completely figured out how to do it,&quot; Jackson said.</p>
<p>Apple's report says that &quot;when there are materials for which recycling technologies don't yet exist, we'll need to invest in research and other technology solutions.&quot;</p>
<p>Apple has often been criticized for using materials from mines in its products. The company was accused in 2014 of <a href="http://uk.businessinsider.com/secret-filming-inside-apple-factory-bbc-panorama-2014-12">using tin from mines that use child labor</a>, for example. And in 2016 <a href="http://uk.businessinsider.com/amnesty-international-report-on-child-labour-and-apple-2016-1">an Amnesty International report accused Apple </a>of sourcing cobalt that had been mined by children.</p>
<p>It's been a long-running public relations nightmare for Apple, and now it says it wants to drop mines altogether and move towards recycled materials for iPhones. This won't be happening in the next iPhone, though, but it's a long-term goal for the company.</p>
<p>Jackson was also asked about<a href="https://9to5mac.com/2017/02/15/apple-nebraska-right-to-repair/"> the so-called &quot;right to repair,&quot;</a> which would give customers the right to repair iPhones themselves using spare parts and proper manuals. &quot;I think trying to pretend that we can sort of make it easy to repair the product, and that you get the product that you think you're buying—that you want—isn't the answer,&quot; Jackson said.</p>
<p><strong>Here's the full segment from Vice News:</strong></p>
<p>Now Watch: <a href="http://www.businessinsider.com/jins-screen-computer-glasses-blue-light-filter-review-2017-3">I wear these computer glasses every day even though I have perfect vision — here's why</a></p>Thu, 20 Apr 2017 15:39:46 GMThttp://www.slate.com/blogs/business_insider/2017/04/20/apple_announced_a_pledge_to_make_iphones_from_recycled_materials_without.htmlJames Cook2017-04-20T15:39:46ZBusinessApple Pledges to Stop Using Materials From Mines in iPhones235170420001appleJames CookBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/04/20/apple_announced_a_pledge_to_make_iphones_from_recycled_materials_without.htmlfalsefalsefalseApple is pledging to one day make iPhones from recycled materials.The company was accused in 2014 of using tin from mines that use child labor.Photo by Justin Sullivan/Getty ImagesApple CEO Tim Cook.Theranos Will Refund 175,000 People in Arizona Who Took Its Blood Testshttp://www.slate.com/blogs/business_insider/2017/04/18/theranos_reached_a_4_65_million_settlement_over_questionable_blood_tests.html
<p><em>This <a href="http://www.businessinsider.com/theranos-reaches-465-million-settlement-with-arizona-attorney-general-2017-4">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Anyone who paid to take one of Theranos's blood tests in Arizona will be receiving a refund from the company, Arizona's attorney general said on Tuesday. In total, Theranos will pay the state $4.65 million to refund the tests, and will also pay $225,000 to cover civil penalties and attorneys' fees.</p>
<p>&quot;Between 2013 and 2016, Theranos sold approximately 1.5 million blood tests to more than 175,000 Arizonans,&quot; the attorney general said in a news release. &quot;Each customer will now be reimbursed the full amount the customer paid for testing regardless of whether the results were voided or corrected.&quot;</p>
<p>It's the second settlement the embattled blood-testing company has made this week. On Monday, <a href="http://www.businessinsider.com/theranos-settles-with-cms-for-30000-2017-4">Theranos said that it had settled up with&nbsp;Centers for Medicare and Medicaid Services</a>, the government agency responsible for regulating blood-testing labs.</p>
<p>As part of the settlement, Theranos has to pay $30,000, and the company won't be able to own or operate a clinical lab within the next two years. In return, the CMS is no longer revoking Theranos's CLIA certification, which is needed to run a blood-testing lab.</p>
<p>In January, The Wall Street Journal <a href="http://www.businessinsider.com/theranos-ceo-elizabeth-holmes-announces-closure-of-clinical-labs-2016-10">reported that Theranos had failed a CMS inspection</a> of its Arizona lab, &nbsp;<a href="http://www.businessinsider.com/theranos-ceo-elizabeth-holmes-announces-closure-of-clinical-labs-2016-10">just a few days before Theranos decided to shut down all of its clinical labs on October 5</a>. A year earlier, Theranos's Northern California lab also <a href="http://www.businessinsider.com/timeline-of-theranos-controversy-2016-10">failed a lab inspection</a>. </p>
<p>In October 2016,&nbsp;Theranos <a href="http://www.businessinsider.com/theranos-pivot-to-building-a-blood-testing-device-2016-10">pivoted to focus solely on developing its technology</a> instead of simultaneously operating clinical laboratories. The end goal? Getting its miniLab machine (which only requires&nbsp;a small amount of blood to function) in places that have difficulties&nbsp;sending full&nbsp;blood samples to a traditional, full-blown clinical lab operation.&nbsp;</p>
<p>The technology debuted in August as part of Theranos' attempt to be what CEO Elizabeth Holmes called a &quot;decentralized&quot; lab, meaning the test could be processed without needing to be shipped back&nbsp;to a brick-and-mortar lab.</p>
<p>Theranos'&nbsp;saga came into the spotlight in October 2015 after The Wall Street Journal published <a href="http://www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901">an investigation</a> that questioned the accuracy of Theranos' blood test.&nbsp;</p>
<p>The company still faces lawsuits from <a href="http://www.businessinsider.com/theranos-faces-new-investor-lawsuit-seeking-class-action-2016-11">investors</a>, <a href="http://www.bloomberg.com/news/articles/2016-10-14/theranos-faces-growing-number-of-lawsuits-over-blood-tests">patients</a>, and its once partner Walgreens, which ended its relationship with Theranos in June 2016 and is accusing Theranos of breaching its contract. Theranos has said it will &quot;respond vigorously to Walgreens’ unfounded allegations.&quot;</p>
<p>Financially, lawsuits like the one settled with Arizona can pack a punch. The Journal reported that <a href="http://www.businessinsider.com/theranos-reportedly-had-200-million-in-cash-at-end-of-2016-2017-2">Theranos had about $200 million</a> in cash by the end of 2016, roughly a quarter of the money the company raised. The Journal also reported that Holmes&nbsp;<a href="https://www.wsj.com/articles/theranos-founder-elizabeth-holmes-owes-about-25-million-to-blood-testing-startup-1491435009?mg=id-wsj">now owes the company $25 million</a>, and the company <a href="https://www.wsj.com/articles/theranos-offers-shares-for-promise-not-to-sue-1490301856">is offering investors</a> additional shares if they promise not to sue.&nbsp;</p>
<p> </p>Tue, 18 Apr 2017 18:37:49 GMThttp://www.slate.com/blogs/business_insider/2017/04/18/theranos_reached_a_4_65_million_settlement_over_questionable_blood_tests.htmlLydia Ramsey2017-04-18T18:37:49ZBusinessTheranos Will Refund 175,000 People in Arizona Who Took Its Blood Tests235170418001medicineLydia RamseyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/04/18/theranos_reached_a_4_65_million_settlement_over_questionable_blood_tests.htmlfalsefalsefalseTheranos will refund 175,000 people in Arizona who took its blood tests.The blood testing company is still facing lawsuits over its inaccurate blood tests.Photo by Andrew Burton/Getty ImagesThe founder and CEO of Theranos, Elizabeth Holmes, in September 2015 in New York City.&nbsp;Snapchat Is Letting Advertisers Track Users by the Stores They Visithttp://www.slate.com/blogs/business_insider/2017/04/12/snap_to_store_will_help_advertisers_track_your_location.html
<p><em>This <a href="http://www.businessinsider.com/snapchat-helps-advertisers-track-people-based-on-stores-they-visit-with-new-tool-2017-4">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Snap Inc. executives frequently tout Snapchat&nbsp;as the best place for advertisers to win over its youthful, primarily millennial user base. Now the company is letting advertisers track those users based on the stores they visit.</p>
<p>A new tool called Snap to Store will let advertisers track where Snapchat's 158 million daily users go in the real world on an anonymized basis.&nbsp;Marketers will be able to correlate ad campaigns in the app with actual foot traffic. The tool is available to any advertiser with physical stores in the U.S. that meets an undisclosed minimum spend amount, a Snap spokesperson told Business Insider on Wednesday.</p>
<p>Snapchat’s app relies on a phone’s GPS to determine users’ locations, including which stores they are visiting. Users can opt out of being tracked and turn off the app’s access to their phone’s location altogether.</p>
<p>A select few advertisers, such as Wendy's, 7-Eleven, and Paramount Pictures, have already participated in a closed beta of Snap's new tool. Wendy's, for example, found that 42,000 people visited its restaurants in a seven-day period after seeing a sponsored geofilter for its jalape&ntilde;o fresco chicken sandwich.</p>
<p>Snap has <a href="http://www.businessinsider.com/snapchat-partners-with-oracle-data-cloud-for-offline-purchase-ad-targeting-2017-1">made a number</a>&nbsp;<a href="http://www.businessinsider.com/snapchat-is-proving-its-worth-for-tv-advertisers-like-nbc-2017-3">of moves</a>&nbsp;<a href="http://www.businessinsider.com/snapchat-adds-goal-based-bidding-for-app-install-ads-to-rival-facebook-2017-4">in recent months</a> to refine its ad offerings as it steps up&nbsp;competition with&nbsp;more established players like Facebook and Google. The company has disclosed that its average user spends 25-30 minutes per day in Snapchat and opens the app 18 times per day.</p>
<p>A 2017 Snapchat-commissioned&nbsp;study by Greenberg Strategy found that 80% of Snapchat users have opened the app at a restaurant and 66% have used it in a shopping mall. Snap has said that the key to growing its business will be further monetizing its highly engaged users in more developed ad markets, like the U.S. and Europe.</p>
<p>See Also: <a href="http://www.businessinsider.com/snapchat-adds-goal-based-bidding-for-app-install-ads-to-rival-facebook-2017-4">Snapchat just launched an attack on a key source of Facebook's ad revenue</a></p>Wed, 12 Apr 2017 22:23:24 GMThttp://www.slate.com/blogs/business_insider/2017/04/12/snap_to_store_will_help_advertisers_track_your_location.htmlAlex Heath2017-04-12T22:23:24ZBusinessSnapchat Is Letting Advertisers Track Users by the Stores They Visit235170412001snapchatAlex HeathBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/04/12/snap_to_store_will_help_advertisers_track_your_location.htmlfalsefalsefalseSnapchat is letting advertisers track the stores you visit.Snapchat is helping Wendy's know where you are.Photo by Drew Angerer/Getty ImagesSign for Snap Inc., parent company of Snapchat, at the New York Stock Exchange.Amazon Is Using a “Simulated Dog” to Test Its Delivery Droneshttp://www.slate.com/blogs/business_insider/2017/04/06/amazon_is_tackling_the_canine_threat_to_its_drones_with_simulated_dogs.html
<p><em>This <a href="http://www.businessinsider.com/amazon-simulated-dog-drone-tests-2017-4">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Amazon is using a &quot;simulated dog&quot; to test its delivery drones,&nbsp;<a href="http://www.ibtimes.co.uk/amazons-delivery-drones-trained-deal-dogs-clothes-lines-1615370">according to IBTimes</a>.</p>
<p>The e-commerce giant wants to use drones to deliver parcels to customers in less than 30 minutes but it clearly has some concerns about how dogs might interfere. At least one simulated dog is being used to &quot;help Amazon see how UAVs [unmanned aerial vehicles] would respond to a canine trying to protect its territory,&quot; according to IBTimes.</p>
<p>Little is known about the simulated dog that Amazon is using and Amazon did not immediately respond to Business Insider's request for comment. It's also not clear if Amazon created the dog itself or whether it turned to a supplier. The exact number of simulated dogs that Amazon has in its possession is also unknown.</p>
<p>Dogs being dogs, they're subject to chewing things to pieces. A drone landing in an excitable or protective pooch's garden may provoke the animal to attack and damage the drone and the goods it's carrying. Arguably more importantly, the drone could also injure the dog in the process.</p>
<p>Amazon is testing its drones at a rural site <a href="http://uk.businessinsider.com/amazon-secret-drone-testing-site-cambridge-discovered-2016-8">identified by Business Insider</a> in Babraham, Cambridgeshire, and at several other secret sites around the world.</p>
<p>When we visited the Cambridgeshire test site, it appeared to have astroturfed &quot;launchpads&quot; at two ends of a large field but there was no sign of a simulated dog.</p>
<p>Amazon founder Jeff Bezos revealed plans for Amazon drone deliveries, or Amazon Prime Air, in an interview on &quot;60 Minutes&quot; in December 2013. The conceptual drone-based delivery system is currently in development and a number of drone designs have been released.</p>
<p>The Seattle-based company claims the drones will be greener, cheaper, and safer than the vans that are currently used to deliver Amazon packages.</p>
<p>Last July Amazon Prime Air cofounder Daniel Buchmueller told journalists in London that the battery-powered vehicles can rise vertically like a helicopter up to 400 feet before flying up to 15 miles at speeds of 50mph. He said the company is creating 25kg drones that are highly automated and able to carry packages up to 2kg in weight, adding that there were more than a dozen prototypes already made.</p>
<p>Now Watch: <a href="http://www.businessinsider.com/nuclear-weapons-deadly-evolution-power-military-video-animation-2017-3">This animation shows how terrifyingly powerful nuclear weapons have become</a></p>Thu, 06 Apr 2017 16:35:24 GMThttp://www.slate.com/blogs/business_insider/2017/04/06/amazon_is_tackling_the_canine_threat_to_its_drones_with_simulated_dogs.htmlSam Shead2017-04-06T16:35:24ZBusinessAmazon Is Using a “Simulated Dog” to Test Its Delivery Drones235170406001amazonSam SheadBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/04/06/amazon_is_tackling_the_canine_threat_to_its_drones_with_simulated_dogs.htmlfalsefalsefalseAmazon is using a "simulated dog" to test its delivery drones.Woof.Photo by Matt Cardy/Getty ImagesA Maker of Smart Garage Openers Responded to a Bad Amazon Review by Remotely Disabling the Customer's Devicehttp://www.slate.com/blogs/business_insider/2017/04/05/a_garage_door_company_s_response_to_a_bad_review_gives_support_to_internet.html
<p><em>This <a href="http://www.businessinsider.com/iot-garage-door-opener-garadget-kills-customers-device-bad-amazon-review-2017-4">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>There's a new, dystopian risk to using internet-connected gadgets: If you complain, the company that made it might remotely kill your product.</p>
<p>This is what happened to one customer who bought Garadget—an internet-connected garage door opener. It lets you remotely lock or unlock your garage with an app, or see if it's open. But after they complained about it online and left a negative review, he got an unpleasant surprise—Garadget had bricked their device. (<a href="https://arstechnica.com/information-technology/2017/04/iot-garage-door-opener-maker-bricks-customers-product-after-bad-review/">We first heard the news via <em>Ars Technica</em></a>.)</p>
<p>The customer had left <a href="http://community.garadget.com/t/iphone-app-will-not-stay-open-just-flashes-when-trying-to-launch/1706">a comment on the support forum</a> complaining about technical issues, &quot;wondering what kind of piece of shit I just purchased here.&quot; They then followed it up with a negative Amazon review, saying: &quot;Junk - DO NOT WASTE YOUR MONEY - iPhone app is a piece of junk, crashes constantly, start-up company that obviously has not performed proper quality assurance tests on their products.&quot;</p>
<p>Well, Garadget did not like that one bit.</p>
<p>The company disabled the disgruntled customer's device by denying it access to its servers—<a href="http://community.garadget.com/t/iphone-app-will-not-stay-open-just-flashes-when-trying-to-launch/1706">and announced it had done as such on its forum</a> (emphasis ours):</p>
<p>Martin,</p>
<p>The abusive language here and in your negative Amazon review, submitted minutes after experiencing a technical difficulty, only demonstrates your poor impulse control. I'm happy to provide the technical support to the customers on my Saturday night but <strong>I'm not going to tolerate any tantrums</strong>.</p>
<p>At this time your only option is return Garadget to Amazon for refund. <strong>Your unit ID 2f0036... will be denied server connection</strong>.</p>
<p>Garadget defended itself in a subsequent post, saying it&nbsp;took action to &quot;distance from the toxic individual&quot;:</p>
<p>Ok, calm down everybody. Save your pitchforks and torches for your elected representatives. This only lacks the death threats now.</p>
<p>The firing of the customer was never about the Amazon review, just wanted to distance from the toxic individual ASAP. Admittedly not a slickest PR move on my part. Access restored, note taken.</p>
<p><a href="https://twitter.com/elonmusk/status/694802955170553861">A quote from a random guy</a>.</p>
<p>PS: Anybody has Streisand's phone number?</p>
<p>But the company has come under heavy criticism on the support forum—and elsewhere online—as a result of the action. &quot;I don't own your product, so I can say this without fear of retribution: What a terrible way to do business. I'll leave an Amazon review, too, just because I can,&quot; one poster wrote. &quot;P.S. Please don't change my locks while I'm at work.&quot;</p>
<p>&quot;Ironically it seems you have much poorer 'impulse control' and are much more prone to 'tantrums',&quot; said another. &quot;Maybe you should stop working in customer support. Doesn't seem like you're much good at it.&quot;</p>
<p>Garadget did not immediately respond to<em> Business Insider</em>'s request for comment, <a href="https://arstechnica.com/information-technology/2017/04/iot-garage-door-opener-maker-bricks-customers-product-after-bad-review/">though Grisek told <em>Ars Technica</em> that</a> &quot;there isn't much more to add.&quot;</p>
<p>The whole incident raises a broader issue with the &quot;internet of things&quot;: If your devices rely on someone else's servers to run, and they can be remotely disabled at any time, do you really own them?</p>
<p>In 2016, smart-home company Nest decided to discontinue a line of products built by Revolv, a company it acquired—bricking customers' devices. The decision sparked outrage from customers, and raised questions about consumer rights in the internet age.</p>
<p>&quot;When software and hardware are intertwined, does a warranty mean you stop supporting the hardware or does it mean that the manufacturer can intentionally disable it without consequence?&quot; <a href="http://uk.businessinsider.com/googles-nest-closing-smart-home-company-revolv-bricking-devices-2016-4">one disgruntled Revolv customer wrote</a>. &quot;[Then-Nest CEO] Tony Fadell seems to believe the latter. Tony believes he has the right to reach into your home and pull the plug on your Nest products.&quot;</p>
<p>Nest subsequently offered compensation to affected customers to make amends. But what's happening with Garadget shows the issues around internet-connected devices is only just getting started.</p>
<p>Now Watch: <a href="http://www.businessinsider.com/samsung-galaxy-s8-vs-apple-iphone-7-2017-3">6 things the Samsung Galaxy S8 can do that the iPhone can’t</a></p>Wed, 05 Apr 2017 17:16:01 GMThttp://www.slate.com/blogs/business_insider/2017/04/05/a_garage_door_company_s_response_to_a_bad_review_gives_support_to_internet.htmlRob Price2017-04-05T17:16:01ZBusinessA Maker of Smart Garage Openers Responded to a Bad Amazon Review by Remotely Disabling the Customer's Device235170405001internet of thingsRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/04/05/a_garage_door_company_s_response_to_a_bad_review_gives_support_to_internet.htmlfalsefalsefalseA garage door company bricked a customer's device after he posted a bad Amazon reviewThe company said it was "firing...the customer" to "distance from the toxic individual."Photo illustration by Slate. Images via SBSArtDept, Eskemar/iStock.Facebook Is Testing a Second News Feed for People Who Want News but No Baby Photoshttp://www.slate.com/blogs/business_insider/2017/04/03/facebook_is_testing_a_second_news_feed_for_just_videos_and_news.html
<p><em>This <a href="http://www.businessinsider.com/facebook-rocket-tab-what-its-for-and-why-youre-seeing-it-2017-4">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Don't be surprised when you eventually see a new rocketship tab in your <a href="http://markets.businessinsider.com/stock/FB-Quote">Facebook</a> app.</p>
<p>The tab is essentially a second News Feed, except without any posts or baby pictures from your friends. Instead, Facebook is using the tab to only show recommended videos and articles based on what you already like and watch in your main News Feed. </p>
<p>Facebook has been quietly testing the new tab in different parts of the world for the past several weeks, a company spokesperson told Business Insider. “We are testing a complementary feed of popular articles, videos, and photos, customized for each person based on content that might be interesting to them,&quot; the spokesperson said. &quot;We've heard from people that they want an easy way to explore new content they haven't connected with yet.”</p>
<p>Facebook frequently tests changes to its apps that are never rolled out to all of its 1.8 billion users. But now that more people, including those in the US, are starting to see the rocketship tab, Facebook appears close to&nbsp;making the feature available to everyone.</p>
<p>Creating a second News Feed could help Facebook overcome a looming threat to its ad business. <a href="http://www.businessinsider.com/facebook-cfo-comments-on-2017-spending-and-revenue-growth-2016-11">The company has warned</a> that it's nearing the limit of ads it can stuff into the News Feed, and this new tab could let it show more ads in videos and between stories.</p>
<p>See Also:&nbsp;<a href="http://www.businessinsider.com/facebook-personal-donation-gofundme-2017-3">Facebook is taking on GoFundMe with a personal donation feature</a></p>Mon, 03 Apr 2017 20:48:42 GMThttp://www.slate.com/blogs/business_insider/2017/04/03/facebook_is_testing_a_second_news_feed_for_just_videos_and_news.htmlAlex Heath2017-04-03T20:48:42ZBusinessFacebook Is Testing a Second News Feed for People Who Want News but No Baby Photos235170403001facebookAlex HeathBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/04/03/facebook_is_testing_a_second_news_feed_for_just_videos_and_news.htmlfalsefalsefalseFacebook is testing a second news feed for people who want news but no baby photosPeople in the U.S. are starting to see Facebook's new rocketship tab on the app.Photo by Sean Gallup/Getty ImagesIn On-Brand Move, Samsung Store Literally Catches Firehttp://www.slate.com/blogs/business_insider/2017/03/28/a_samsung_store_caught_fire_one_day_before_s8_release.html
<p><em>This <a href="http://www.businessinsider.com/samsung-store-catches-fire-in-singapore-before-galaxy-s8-announcement-2017-3">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>A Samsung store in Singapore caught fire on Tuesday morning, just a day before the company is set to <a href="http://www.businessinsider.com/samsung-galaxy-s8-announcement-date-2017-2">announce its new flagship smartphone</a>, the Galaxy S8.</p>
<p>According to <a href="http://www.channelnewsasia.com/news/singapore/samsung-store-at-amk-hub-catches-fire-surrounding-stores/3630356.html">Channel News Asia</a>, Samsung confirmed there was a fire at the store's location in the AMK Hub shopping center, and it was quickly extinguished by water sprinklers. There were no reported injuries, and several surrounding stores had to be temporarily closed down, according to the report.</p>
<p>The cause of the fire has yet to be determined, but it supposedly involved &quot;contents&nbsp;measuring 1m by 2m&quot;&nbsp;in the store's storeroom, according to Channel News Asia.</p>
<p>The fire's timing is unfortunate. The event will lead many to remember Samsung's Galaxy Note 7 fiasco, where multiple&nbsp;units caught fire due to <a href="http://www.businessinsider.com/samsung-issues-galaxy-note-7-battery-report-2017-1">poor battery design</a>. As a result, the Galaxy Note 7 was pulled from store shelves, and its production was halted just two months after it was released.</p>
<p>Samsung announced on Monday that it would soon begin <a href="http://www.businessinsider.com/samsung-issues-galaxy-note-7-battery-report-2017-1">selling refurbished units of the Galaxy Note 7</a> with smaller batteries that will supposedly prevent battery-related fires. The company said it wouldn't be selling the refurbished devices in the U.S., and it has yet to determine which markets it'll sell the devices. It's unclear whether Singapore is one of those markets.</p>
<p>See Also: <a href="http://www.businessinsider.com/samsung-galaxy-s8-leaks-show-every-color-and-angle-photos-2017-3">Photos of the Galaxy S8 have leaked that show the phone in every color and angle</a></p>Tue, 28 Mar 2017 19:59:27 GMThttp://www.slate.com/blogs/business_insider/2017/03/28/a_samsung_store_caught_fire_one_day_before_s8_release.htmlAntonio Villas-Boas2017-03-28T19:59:27ZBusinessIn On-Brand Move, Samsung Store Literally Catches Fire235170328001samsungAntonio Villas-BoasBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/28/a_samsung_store_caught_fire_one_day_before_s8_release.htmlfalsefalsefalseIn on-brand move, Samsung store literally catches fire:Oof.Photo by Spencer Platt/Getty ImagesSamsung could really use a break.Shoppers Appear to Be Ditching Whole Foods for the Organic Food at ... Kroger?http://www.slate.com/blogs/business_insider/2017/03/27/kroger_s_organics_are_threatening_whole_foods_popularity.html
<p><em>This <a href="http://www.businessinsider.com/whole-foods-is-losing-millions-of-customers-2017-3">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Whole Foods is losing millions of customers to what was once an unthinkable threat: Kroger.</p>
<p>The organic-food chain has lost as many as 14 million customers in the past six quarters, according to Barclays analyst Karen Short. Most of those customers are instead going to Kroger and probably won't ever go back to Whole Foods, Short said in a recent research note. &quot;The magnitude of the traffic declines ... is staggering,&quot; Short said. &quot;As most retailers know—once traffic has been lost, those patterns rarely reversed.&quot;</p>
<p>Kroger—a conventional grocer not known for organic offerings—has not historically been regarded as a significant threat to Whole Foods. But in recent years Kroger has ramped up its supply of organic foods in a bid to steal market share from Whole Foods and other niche grocers such as Sprouts Farmers Market and Fresh Market.</p>
<p>Kroger now devotes several aisles in its stores to organic and natural foods and offers a variety of organic meat and fresh produce. The chain has its own line of organic goods under the &quot;Simple Truth&quot; brand.</p>
<p>The expansion into organics has paid off. Kroger's sales of organic and natural food totaled $16 billion in the past year, compared to $15.8 billion at Whole Foods, according to Barclays.</p>
<p>As Kroger's share of the organic-food market grows, Whole Foods' is shrinking. Whole Foods' same-store sales fell 2.4 percent in 2016. That metric is expected to fall another 2.5 percent this year. Meanwhile, Kroger's same-store sales grew 1 percent in 2016.</p>
<p>Whole Foods CEO John Mackey recently acknowledged the growing threat from conventional grocers, without specifically naming Kroger. &quot;The more conventional mainstream supermarkets have upped their game,&quot; Mackey said on a call with analysts in February. &quot;We're going to do the best job that we can to keep our core customers from migrating back over to those guys.&quot;</p>
<p>But according to Short, the Barclays analyst, there's not much Whole Foods can do to stop the shopper attrition. &quot;Whole Foods might face significant challenges to reverse behavioral changes even if execution improves because execution at competing retailers remains very strong,&quot; Short added.</p>
<p>See Also: <a href="http://www.businessinsider.com/why-customers-are-abandoning-whole-foods-2017-2">Why customers are abandoning Whole Foods</a></p>Mon, 27 Mar 2017 18:06:14 GMThttp://www.slate.com/blogs/business_insider/2017/03/27/kroger_s_organics_are_threatening_whole_foods_popularity.htmlHayley Peterson2017-03-27T18:06:14ZBusinessShoppers Appear to Be Ditching Whole Foods for the Organic Food at ... Kroger?235170327001whole foodsHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/27/kroger_s_organics_are_threatening_whole_foods_popularity.htmlfalsefalsefalseShoppers appear to be ditching Whole Foods for the organic food at ... Kroger?Who'dathunk?Photo by Pete Souza/The White House via Getty ImagesObama after a July 2009 town hall meeting at a Kroger in Bristol, Virginia.Hackers Reportedly Tried to Steal Self-Driving Car Secrets From Chinese Web Company Baiduhttp://www.slate.com/blogs/business_insider/2017/03/21/hackers_reportedly_tried_to_steal_self_driving_car_technology_from_baidu.html
<p><em>This <a href="http://www.businessinsider.com/hackers-tried-to-steal-baidu-driverless-car-tech-secrets-2017-3">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>A group of hackers attempted to steal self-driving car technology from Baidu, a Chinese web services company that has been actively pursuing self-driving cars, <a href="https://www.bloomberg.com/news/articles/2017-03-21/gang-of-hackers-tries-to-steal-baidu-s-driverless-car-secrets">Bloomberg</a> first reported.</p>
<p>Details on the hacking attempt are scarce, but Baidu has beefed up its cybersecurity team following the threat.&nbsp;Ma Jie, Baidu's head of cybersecurity, told Bloomberg that the company is supporting a group of &quot;white hat&quot; student hackers from&nbsp;Tsinghua University and has also teamed up with rivals&nbsp;Tencent and Alibaba to limit the likelihood of another attack.</p>
<p>Baidu did not immediately return <em>Business Insider</em>'s request for comment on when the hack occurred and if the hackers were targeting a specific kind of technology.</p>
<p>Baidu has been publicly testing its autonomous technology since 2015 when a&nbsp;BMW 3-series modified with its self-driving tech <a href="http://www.businessinsider.com/baidus-self-driving-car-successfully-drives-in-beijing-2015-12">successfully completed an 18.3-mile route</a>. The Beijing-based company also let <a href="http://www.businessinsider.com/baidu-driverless-car-public-trial-2016-11/#baidu-extended-a-public-invitation-through-its-wechat-account-allowing-people-to-apply-for-a-ride-because-of-demand-not-everyone-who-applied-was-selected-the-company-is-using-a-fleet-of-18-cars-for-the-public-trial-that-concludes-on-friday-1">members of the public take rides</a> in a fleet of electric cars retrofitted with its driverless&nbsp;tech in November 2016.</p>
<p>Baidu is planning to produce a limited number of autonomous vehicles for a shared shuttle service in 2018. But the company has said it will also mass produce the cars in 2021. Baidu has employees working on the project in an office in Sunnyvale, California and has an autonomous testing permit in the state.</p>
<p>See Also: <a href="http://www.businessinsider.com/baidu-driverless-car-public-trial-2016-11/">Baidu is now letting the public take rides in its self-driving cars</a></p>Tue, 21 Mar 2017 15:15:03 GMThttp://www.slate.com/blogs/business_insider/2017/03/21/hackers_reportedly_tried_to_steal_self_driving_car_technology_from_baidu.htmlDanielle Muoio2017-03-21T15:15:03ZBusinessHackers Reportedly Tried to Steal Self-Driving Car Secrets From Chinese Web Company Baidu235170321001self-driving carsDanielle MuoioBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/21/hackers_reportedly_tried_to_steal_self_driving_car_technology_from_baidu.htmlfalsefalsefalseHackers tried to steal self-driving technology from Chinese company Baidu.Baidu, which is planning on producing autonomous vehicles for a shuttle service in 2018, has teamed up with rivals to try to protect against similar attacks.Baidu.Google Home Is Playing Ads, But Google Says They Aren't Really Adshttp://www.slate.com/blogs/business_insider/2017/03/16/google_says_its_google_home_audio_ads_aren_t_ads.html
<p><em>This <a href="http://www.businessinsider.com/google-home-plays-ad-for-beauty-and-the-beast-movie-2017-3">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>As Google moves toward screen-free computing powered by digital assistants and artificial intelligence, one of the big questions the company faces is how it'll translate its lucrative advertising to those platforms.</p>
<p>Now we're starting to get an idea.</p>
<p>Some users of the new Google Home connected speaker have noticed audio ads for Disney's upcoming &quot;Beauty and the Beast&quot; remake.</p>
<p>Here's a clip of the ad, taken by a Google Home user and posted to Twitter. The ad comes after the user gets an update on his day from the Google Assistant:</p>
<p>Now here's the rub. A Google spokesperson told Business Insider that&nbsp;the ad you just heard isn't an ad.</p>
<p>&quot;This isn't an ad; the beauty in the Assistant is that it invites our partners to be our guest and share their tales,&quot; the spokesperson said in a statement.</p>
<p>We're as confused as you are by that one. The spokesperson&nbsp;did not respond when asked to clarify.</p>
<p>Google CEO Sundar Pichai was asked multiple times by analysts on the company's last earnings call about <a href="http://www.businessinsider.com/google-ceo-sundar-pichai-responds-to-concerns-over-monetizing-voice-search-2017-1">how he plans to monetize voice-first products like Google Home</a>. Pichai didn't have a clear answer,&nbsp;sticking to his common refrain that it's still &quot;early days&quot; for the technology.</p>
<p>He also said voice is only &quot;one mode&quot;&nbsp;to control computers and &quot;users will have many different ways by which they interact&quot; with Google products.</p>
<p>See Also: <a href="http://www.businessinsider.com/imessage-app-growth-is-slowing-2017-3">Apple's bet on iMessage apps has hit a wall</a></p>Thu, 16 Mar 2017 22:18:18 GMThttp://www.slate.com/blogs/business_insider/2017/03/16/google_says_its_google_home_audio_ads_aren_t_ads.htmlSteve Kovach2017-03-16T22:18:18ZBusinessGoogle Home Is Playing Ads, But Google Says They Aren't
<em>Really&nbsp;</em>Ads235170316002googleSteve KovachBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/16/google_says_its_google_home_audio_ads_aren_t_ads.htmlfalsefalsefalseGoogle Home is playing ads. Google denies the ads are ads.Google may be working on translating its advertising to the digital assistant platform.Photo by Justin Sullivan/Getty ImagesGoogle Vice President of Product Management Mario Queiroz shows the new Google Home at a conference in May 2016 in Mountain View, California.Spotify May Block Users From Listening to Top Hits Unless They Pay to Subscribehttp://www.slate.com/blogs/business_insider/2017/03/16/spotify_may_make_its_top_releases_only_available_to_subscribers.html
<p><em>This <a href="http://www.businessinsider.com/spotify-stop-free-users-listening-big-new-releases-ipo-report-2017-3">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>People who use Spotify without paying may be blocked from listening to some of the hottest new music on the platform,&nbsp;<a href="https://www.ft.com/content/b169046a-09ca-11e7-97d1-5e720a26771b">according to a new report from The Financial Times</a>.</p>
<p>The music streaming service is reportedly nearing a new deal with the major music labels. And one part of that deal would—on a temporary basis—make some of the top releases on the platform available only to users who have paid for subscriptions. So the next Frank Ocean album, say, might become available on Spotify—but unless you've paid for a subscription, you'll have to wait a while before you can actually listen to it.</p>
<p>These negotiations with labels are essential to Spotify's future plans. The Swedish company plans to go public, but first it needs certainty about the terms on which it uses the major labels' music on its platform. Spotify has been long resistant to the idea of restricting some of its music to just its paid subscribers. But according to the FT, it has received a concession in return—it will pay less to the labels in royalty fees on each song.</p>
<p>Taylor Swift refused to put her new album on the platform in 2015&nbsp;<a href="http://www.independent.co.uk/arts-entertainment/music/news/adele-and-taylor-swift-prompt-spotify-to-rethink-free-music-stance-a6766401.html">because the company would not restrict it to premium-only users</a>, an incident that sparked heated debate over how music should be valued and whether ad-supported music streaming services pay artists properly. Competitors, like Apple Music, do not offer a free tier at all—though it does provide temporary free trials to potential subscribers.</p>
<p>The negotiations, with Universal, Sony, and Warner, could reportedly be completed within weeks.</p>
<p>Spotify currently has more than 50 million paid subscribers, <a href="https://press.spotify.com/uk/about/">according to its site</a>, and over 100 million overall. There are more than 30 million songs on the platform.</p>
<p>A spokesperson declined to comment to Business Insider.</p>
<p>Now Watch: <a href="http://www.businessinsider.com/everything-we-know-about-apple-iphone-8-rumors-2017-2">Everything we know about the next iPhone—including a possible $1,000 price tag</a></p>Thu, 16 Mar 2017 16:38:16 GMThttp://www.slate.com/blogs/business_insider/2017/03/16/spotify_may_make_its_top_releases_only_available_to_subscribers.htmlRob Price2017-03-16T16:38:16ZBusinessSpotify May Block Users From Listening to Top Hits Unless They Pay to Subscribe235170316001spotifyRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/16/spotify_may_make_its_top_releases_only_available_to_subscribers.htmlfalsefalsefalseSpotify might soon make people pay to subscribe to listen to its top releases:Spotify appears to be in negotiations with major labels that would limit free content.Photo by ROBYN BECK/AFP/Getty ImagesTaylor Swift refused to put her new album on Spotify in 2015.Google Street View Will Now Take You Into an Active Volcanohttp://www.slate.com/blogs/business_insider/2017/03/15/google_street_view_will_show_you_the_inside_of_an_active_volcano.html
<p><em>This <a href="http://www.businessinsider.com/google-street-view-inside-active-volcano-ambryn-vanuatu-2017-3">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Google Street View has expanded to an extreme new location: the inside of an active volcano.</p>
<p>The 360-degree mapping service has launched an update that includes the island of Ambrym, part of a remote archipelago of islands in the South Pacific Ocean, <a href="https://www.google.com/streetview/#ambrym-volcano-vanuatu/lava-lake-marum-crater-ambrym-volcano">it announced in a blog post published on Wednesday</a>.* Users can explore the island and the village Endu—<a href="https://www.google.com/maps/@-16.2500152,168.1359185,3a,75y,111.69h,73.79t/data=!3m6!1e1!3m4!1sQZNcwUQmCoBcvc2zxPL6ow!3e5!7i13312!8i6656">and climb inside the island's volcano, &quot;one of the largest boiling lava lakes in the world.&quot;</a></p>
<p>The Californian tech company sent two explorers, George Mackley and Chris Horsly, to climb into the crater and capture footage of the bubbling lava. &quot;Standing at the edge and feeling the heat lick your skin is phenomenal,&quot; Horsly said in a statement. &quot;I hope that by putting this place on the map people will realize what a beautiful world we live in.&quot;</p>
<p>You can move in multiple directions in the caldera, and look in all directions—just like how Google Street View works anywhere else. you can also trek through the jungle on the islands, stroll along the beaches, hike up the side of the mountain, and visit the explorers' camp.</p>
<p>&quot;We believe that the volcanoes Marum and Benbow are devils,&quot; Chief Moses, from local visit Endu, said in a statement. &quot;If you go up to a volcano you have to be very careful because the two volcanoes could get angry at any time. We believe that Benbo is the husband and Marum is the wife.&quot;</p>
<p>He added: &quot;Sometimes when they don’t agree there’s an eruption which means the spirit is angry so we sacrifice a pig or [fowl]&nbsp;to the volcano.&quot;</p>
<p>You can check out <a href="https://www.google.com/maps/@-16.2500152,168.1359185,3a,75y,112.49h,76.41t/data=!3m6!1e1!3m4!1sQZNcwUQmCoBcvc2zxPL6ow!3e5!7i13312!8i6656">the volcano on Google Street View here</a>.</p>
<p>Now Watch: <a href="http://www.businessinsider.com/heres-why-steve-jobs-never-let-his-kids-use-ipad-apple-social-media-2017-3">Here's why Steve Jobs never let his kids use an iPad</a></p>
<p><em><strong>*Correction, March 16, 2017:</strong> This post originally misspelled the name of the island Ambrym.</em></p>Wed, 15 Mar 2017 18:40:43 GMThttp://www.slate.com/blogs/business_insider/2017/03/15/google_street_view_will_show_you_the_inside_of_an_active_volcano.htmlRob Price2017-03-15T18:40:43ZBusinessGoogle Street View Will Now Take You Into an Active Volcano235170315001google street viewRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/15/google_street_view_will_show_you_the_inside_of_an_active_volcano.htmlfalsefalsefalseGoogle Street View will now take you into an active volcano:Google sent explorers to climb inside an active volcano for the sake of Google Street View.Google Maps.Disney’s CEO Quoted Hamilton to Explain Why He’s on Trump’s Business Councilhttp://www.slate.com/blogs/business_insider/2017/03/08/disney_ceo_bob_iger_quoted_hamilton_to_defend_his_place_on_trump_s_business.html
<p>This <a href="http://www.businessinsider.com/disney-ceo-bob-iger-hamilton-trump-business-council-2017-3">post</a> originally appeared in <em><a href="http://www.businessinsider.com">Business Insider</a></em>.</p>
<p>At Disney's annual shareholder meeting Wednesday, CEO Bob Iger responded to criticisms of his place on President Trump's business council by referencing the musical <em>Hamilton</em>. “I want to be in the room where it happens,” Iger said, quoting the smash-hit Broadway sensation that almost certainly will get made into a movie one day (maybe by Disney).</p>
<p>The line Iger used is said several times throughout <em>Hamilton</em>, most notably in a song of the same name—where Aaron Burr expresses his frustrations that he wasn't privy to backchannel negotiations that resulted in a stronger federal government, among other policy changes.</p>
<p>&quot;I made a decision that I thought was in the best interests of this company, and I would have an opportunity to express my points of views directly to the President of the United States, and to his administration,&quot; <a href="http://www.hollywoodreporter.com/news/disney-ceo-bob-iger-asked-participation-trump-task-force-984398">Iger said</a>.&nbsp;&quot;I think it’s actually a privileged opportunity,&quot; he explained. He said his presence on the council didn't imply an endorsement of Trump or his policies.</p>
<p>Iger's response <a href="https://twitter.com/DanielNMiller/status/839536134497562624">got applause</a> from the crowd.</p>
<p>Iger isn't the first CEO to get heat for being on Trump's business council. Uber CEO Travis Kalanick decided to quit the council last month after pressure, and Elon Musk has <a href="http://www.latimes.com/business/technology/la-fi-tn-uber-kalanick-quits-trump-20170202-story.html">also faced criticism</a>.</p>
<p>See Also: <a href="http://www.businessinsider.com/time-warner-ceo-jeff-bewkes-wont-let-data-drive-programming-2017-3">Unlike Netflix, HBO won't let big data decide which TV shows it makes—here's why</a></p>Wed, 08 Mar 2017 19:37:56 GMThttp://www.slate.com/blogs/business_insider/2017/03/08/disney_ceo_bob_iger_quoted_hamilton_to_defend_his_place_on_trump_s_business.htmlNathan Mcalone2017-03-08T19:37:56ZBusinessDisney’s CEO Quoted
<em>Hamilton</em> to Explain Why He’s on Trump’s Business Council235170308001disneyNathan McaloneBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/03/08/disney_ceo_bob_iger_quoted_hamilton_to_defend_his_place_on_trump_s_business.htmlfalsefalsefalseDisney's CEO quoted "Hamilton" to explain why he's on Trump's business councilHe wants "to be in the room where it happens."Photo by Theo Wargo/Getty ImagesMusic director Alex Lacamoire and actor, composer Lin-Manuel Miranda.Walmart is Testing Technology That Would Let Customers Skip Checkout Lineshttp://www.slate.com/blogs/business_insider/2017/02/28/walmart_is_testing_scan_and_go_technology.html
<p><em>This <a href="http://www.businessinsider.com/walmart-is-going-after-amazons-store-of-the-future-2017-2">post</a> was originally published in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p><a href="http://markets.businessinsider.com/stock/WMT-Quote">Walmart</a> is testing a technology that would allow customers to skip checkout lines and pay for purchases with their smartphones instead,&nbsp;<a href="https://www.washingtonpost.com/news/business/wp/2017/02/28/walmarts-plan-to-get-you-in-and-out-of-stores-faster/?utm_term=.4f3531b69abe">the Washington Post reports</a>.</p>
<p>The so-called &quot;scan and go&quot; technology sounds exactly like what <a href="http://markets.businessinsider.com/stock/AMZN-Quote">Amazon</a> is planning to implement in its new chain of grocery stores, which the company is calling Amazon Go. Amazon <a href="http://www.businessinsider.com/amazon-go-grocery-store-future-photos-video-2016-12">revealed plans for its new stores in December</a>. The company said shoppers will be able to use an app to add products to a digital shopping cart, then walk out of the building with their purchases without waiting in a checkout line. Payment for the products will be handled through the app.</p>
<p>Walmart is testing similar checkout capabilities as it looks for ways to make shopping in its stores easier and more convenient. The company announced Tuesday that it's launching a number of updates to its app that will speed up trips to the pharmacy and money services department. The updates will start rolling out in stores in March and be available in all Walmart's US stores by the fall.</p>
<p>With the changes, customers will be able to refill prescriptions through the Walmart app and skip the line when&nbsp;they arrive at the store to pick them up. There will be a new &quot;express&quot; line at the pharmacy where customers can scan a code on their app that notifies pharmacy staff of their arrival. Then a worker will deliver their prescription to them.</p>
<p>The money services update will enable customers to fill out forms on their phones, which they previously had to complete in stores. Like at the pharmacy, there will be an &quot;express&quot; lane for customers who have already filled out the paperwork to quickly complete their transactions using a code on their phones.</p>
<p>Walmart is also going after Amazon online. The retailer&nbsp;just <a href="http://www.businessinsider.com/walmart-free-two-day-shipping-2017-1">rolled out&nbsp;free two-day shipping</a> on 2 million items for&nbsp;orders that are more than $35. All Walmart customers will qualify for the free two-day shipping. There are no fees, and no enrollment in membership programs is required. In comparison, Amazon offers free two-day shipping only to members of its Prime program, who pay $99 annually for membership. </p>
<p>When Walmart rolled out its new shipping option in late January, other Amazon users could&nbsp;qualify for free shipping — but without the two-day delivery — on orders of $49 or more. Amazon <a href="http://www.businessinsider.com/amazon-strikes-back-at-walmarts-free-2-day-shipping-offer-2017-2">just dropped that threshold to $35</a> in what was likely a response to Walmart.&nbsp;</p>
<p>See Also:&nbsp;<a href="http://www.businessinsider.com/amazon-strikes-back-at-walmarts-free-2-day-shipping-offer-2017-2">Amazon strikes back at Walmart's free 2-day shipping offer</a></p>
<p> </p>Tue, 28 Feb 2017 22:18:59 GMThttp://www.slate.com/blogs/business_insider/2017/02/28/walmart_is_testing_scan_and_go_technology.htmlHayley Peterson2017-02-28T22:18:59ZBusinessWalmart is Testing Technology That Would Let Customers Skip Checkout Lines235170228001walmartHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/02/28/walmart_is_testing_scan_and_go_technology.htmlfalsefalsefalseWalmart is testing a way for users to skip checkout lines and pay with their phones.The technology would mimic Amazon's "scan and go" plans for its grocery stores.Photo by Joe Raedle/Getty ImagesJaime Vado fixes a display in the aisle at a Walmart store in November 2015 in Miami, Florida.Google's Self-Driving Car Company Is Suing Uber for Intellectual Property Thefthttp://www.slate.com/blogs/business_insider/2017/02/23/waymo_is_accusing_uber_of_stealing_its_technology.html
<p><em>This <a href="http://www.businessinsider.com/google-self-driving-car-company-waymo-sues-uber-for-stealing-technology-2017-2">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Google and Uber started off as friends, then became competitors, and are now adversaries in a bitter legal fight. Waymo, the self-driving-car business that is owned by Google parent company Alphabet, has sued Uber, alleging that the ride-hailing company stole its intellectual property.</p>
<p>The <a href="https://drive.google.com/file/d/0B7dzPLynxaXuQjY3dkllZ2ZKb0k/view">lawsuit</a>, filed in the US District Court in San Francisco, claims that a team of ex-Google engineers stole the company's design of its lidar system for Uber's self-driving-truck startup Otto. &quot;We believe these actions were part of a concerted plan to steal Waymo’s trade secrets and intellectual property,&quot; reads <a href="https://medium.com/@waymo/a-note-on-our-lawsuit-against-otto-and-uber-86f4f98902a1#.gjjcur7ms">a blog post by Waymo</a> posted on Thursday.</p>
<p>&quot;We take the allegations made against Otto and Uber employees seriously and we will review this matter carefully,&quot; Uber wrote in a statement to Business Insider.</p>
<p>Waymo said in the lawsuit that it was copied on an email, apparently inadvertently,&nbsp;that included machine drawings of what&nbsp;appears to be Uber's lidar circuit board that &quot;bears a striking resemblance&quot; to Waymo's own designs.</p>
<p>Waymo alleges that Anthony Levandowski, a co-founder of Google's self-driving car project, &quot;downloaded over 14,000 highly confidential and proprietary design files for Waymo’s various hardware systems, including designs of Waymo’s LiDAR and circuit board&quot; six weeks before resigning from the company.</p>
<p>Levandowski left Google after 9 years to found Otto, which was acquired by Uber at a deal valued at nearly $680 million. Uber bought Otto in August 2016, just six&nbsp;months after Levandowski founded the startup.</p>
<p>Waymo alleges that Levandowski installed specialized software on his company laptop in order to gain access to Waymo's design server. He then downloaded&nbsp;9.7 GB of&nbsp;highly confidential files and trade secrets that included blue prints, design files, and testing documentation,&nbsp;the lawsuit claims.</p>
<p>Waymo wrote that former Waymo employees now working at Uber and Otto downloaded &quot;additional highly confidential information&quot; related to its lidar system, including supplier lists, manufacturing details, and statements of work with highly technical information.</p>
<p>&quot;Misappropriating this technology is akin to stealing a secret recipe from a beverage company,&quot; Waymo wrote in its blog post.</p>
<p><a href="http://www.businessinsider.com/googles-waymo-reduces-lidar-cost-90-in-effort-to-scale-self-driving-cars-2017-1">Waymo announced</a> in early January that it was building its own lidar system in-house, which allowed it to reduce the price of the notoriously expensive system by 90%. </p>
<p>The lawsuit marks the&nbsp;the latest escalation in the bumpy relationship between the two tech giants.</p>
<p>Google Ventures invested $250 million in Uber in 2013, when the ride-hailing service was still in its early years. But as the two companies' business interests began to overlap, particularly around self-driving cars, the relationship began to fray. In August, Google executive David Drummond stepped down from his seat on Uber's board.</p>
<p>Prior to stepping down, Drummond, as well as&nbsp;Google Ventures CEO David Krane, had been <a href="http://www.businessinsider.com/david-drummond-is-off-ubers-board-2016-8">shut out of Uber's board meetings</a>.</p>
<p>Now Watch: <a href="http://www.businessinsider.com/drone-footage-apple-campus-2-spaceship-tim-cook-cupertino-california-silicon-valley-2017-2">Apple was supposed to move into its new $5 billion campus in January — here's what it looks like right now</a></p>Fri, 24 Feb 2017 02:55:31 GMThttp://www.slate.com/blogs/business_insider/2017/02/23/waymo_is_accusing_uber_of_stealing_its_technology.htmlAlexei OreskovicDanielle Muoio2017-02-24T02:55:31ZBusinessGoogle's Self-Driving Car Company Is Suing Uber for Intellectual Property Theft235170223001googleuberAlexei OreskovicDanielle MuoioBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/02/23/waymo_is_accusing_uber_of_stealing_its_technology.htmlfalsefalsefalseWaymo, Google's self-driving car company, is accusing Uber of stealing its technology.The lawsuit claims Uber engineers stole designs for hardware systems when they were working at Google.Photo by ANGELO MERENDINO/AFP/Getty ImagesAnthony Levandowski, Otto Co-founder and VP of Engineering at Uber, a the launch of the pilot model of the Uber self-driving car in September 2016 in Pittsburgh, Pennsylvania.&nbsp;Apple’s Massive, Ring-Shaped New Headquarters Is Opening This Aprilhttp://www.slate.com/blogs/business_insider/2017/02/22/you_will_be_able_to_visit_apple_s_new_spaceship_campus.html
<p><em>This <a href="http://www.businessinsider.com/apple-park-campus-to-open-in-april-2017-2">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Apple <a href="http://www.apple.com/newsroom/2017/02/apple-park-opens-to-employees-in-april.html">has announced</a> that its new $5 billion campus will be open to employees starting in April.</p>
<p>The Silicon Valley tech giant said it would take over six months to move more than 12,000 workers to the new campus, which is set on a 175-acre site. The ring-shaped facility, which Apple is now calling &quot;Apple Park,&quot; is several months behind schedule. Construction on the main building and the surrounding parkland will continue over the summer, Apple said.</p>
<p>Apple said the Apple Park would also feature:</p>
<ul>
<li>a visitor's center with an Apple Store and a caf&eacute; that are open to the public</li>
<li>a 100,000-square-foot fitness center</li>
<li>secure research-and-development facilities</li>
<li>2 miles of walking and running tracks</li>
<li>and an orchard, a meadow, and a pond.</li>
</ul>
<p>Apple started work on the Apple Park in 2013. Tim Cook, Apple's CEO, <a href="https://9to5mac.com/2016/02/04/tim-cook-india-iphone-apple-watch-android/">told employees last year</a> that Apple planned to move the first groups into the new &quot;Spaceship&quot; campus in January 2017.</p>
<p>Apple also revealed on Wednesday that the new 1,000-seat auditorium would be named the Steve Jobs Theatre, after the company's late co-founder who would have turned 62 this Friday. The auditorium, which is &quot;opening later this year,&quot; sits on a hill overlooking the rest of the campus and comes with a metallic carbon-fiber roof.</p>
<p>&quot;Steve's vision for Apple stretched far beyond his time with us,&quot; Cook said in a statement. &quot;He intended Apple Park to be the home of innovation for generations to come. The workspaces and parklands are designed to inspire our team as well as benefit the environment. We've achieved the most energy-efficient building of its kind in the world and the campus will run entirely on renewable energy.&quot;</p>
<p>Jonny Ive, Apple's chief design officer, added in a statement: &quot;Steve invested so much of his energy creating and supporting vital, creative environments. We have approached the design, engineering and making of our new campus with the same enthusiasm and design principles that characterize our products.</p>
<p>&quot;Connecting extraordinarily advanced buildings with rolling parkland creates a wonderfully open environment for people to create, collaborate and work together. We have been extremely fortunate to be able to work closely, over many years, with the remarkable architectural practice Foster + Partners.&quot;</p>
<p>Now Watch: <a href="http://www.businessinsider.com/drone-footage-apple-campus-2-spaceship-tim-cook-cupertino-california-silicon-valley-2017-2">Apple was supposed to move into its new $5 billion campus in January — here's what it looks like right now</a></p>Wed, 22 Feb 2017 16:55:00 GMThttp://www.slate.com/blogs/business_insider/2017/02/22/you_will_be_able_to_visit_apple_s_new_spaceship_campus.htmlSam Shead2017-02-22T16:55:00ZBusinessApple’s Massive, Ring-Shaped New Headquarters Is Opening This April235170222001appleSam SheadBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/02/22/you_will_be_able_to_visit_apple_s_new_spaceship_campus.htmlfalsefalsefalseApple's massive, ring-shaped new HQ is opening this April:"Apple Park" will include some areas open to the public.AppleThe new 175-acre Apple Park in Cupertino, California.Under Armour's CEO Bought a Full-Page Newspaper Ad to Say He Didn't Mean to Praise Trumphttp://www.slate.com/blogs/business_insider/2017/02/15/under_armour_s_ceo_dedicated_a_full_page_baltimore_sun_ad_to_saying_he_didn.html
<p><em>This <a href="http://www.businessinsider.com/under-armours-ceo-newspaper-ad-2017-2">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider.</a></em></p>
<p><a href="http://markets.businessinsider.com/stock/UAA-Quote">Under Armour</a> CEO Kevin Plank&nbsp;is stepping&nbsp;up the effort to distance himself from comments he made&nbsp;<a href="http://www.businessinsider.com/under-armour-ceo-praises-trump-2017-2">praising President Donald Trump</a>.</p>
<p>Plank published a full page ad in hometown newspaper The Baltimore Sun clarifying his previous remarks. The open letter never mentions President Trump by name, instead stating Under Armour's values in diversity, equal rights, job creation, and opposing Trump's&nbsp;executive order travel ban. &quot;I personally believe that immigration is the foundation of our country’s exceptionalism,&quot; Plank wrote.</p>
<p>Plank also promised&nbsp;in the letter that Under Armour will take &quot;other public positions on legislation around the country in support of the interests of our teammates whenever policy conflicts with human rights.&quot;</p>
<p>Plank had originally landed his company in hot water after <a href="http://www.businessinsider.com/under-armour-ceo-praises-trump-2017-2">praising Trump as &quot;an asset&quot;</a> in a CNBC interview on February 7. The letter says that this choice of words did not &quot;accurately reflect&quot; his intent.</p>
<p>After Plank's interview, many customers said they planned to boycott Under Armour, prompting&nbsp;the company to release a pair of statements clarifying its values. Under Armour sponsored athletes, including <a href="http://www.businessinsider.com/steph-curry-trump-is-an-asset-with-a-catch-2017-2">Steph Curry</a>, <a href="http://www.businessinsider.com/the-rock-slams-under-armour-ceo-2017-2">Dwayne &quot;The Rock&quot; Johnson</a>, and <a href="http://www.businessinsider.com/under-armour-misty-copeland-disagrees-kevin-plank-support-donald-trump-2017-2">Misty Copeland</a> also released statements on social media condemning the comments, but emphasizing&nbsp;their commitment to the company.</p>
<p>Read the letter in full:</p>
<p>See Also:&nbsp;<a href="http://www.businessinsider.com/under-armour-ceo-praises-trump-2017-2">UNDER ARMOUR CEO: Trump is 'a real asset for the country'</a></p>Wed, 15 Feb 2017 16:25:57 GMThttp://www.slate.com/blogs/business_insider/2017/02/15/under_armour_s_ceo_dedicated_a_full_page_baltimore_sun_ad_to_saying_he_didn.htmlDennis Green2017-02-15T16:25:57ZBusinessUnder Armour's CEO Bought a Full-Page Newspaper Ad to Say He Didn't Mean to Praise Trump235170215001muslim banDennis GreenBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/02/15/under_armour_s_ceo_dedicated_a_full_page_baltimore_sun_ad_to_saying_he_didn.htmlfalsefalsefalseUnder Armour's CEO bought a full-page Baltimore Sun ad to distance himself from Trump.The statement came after he called Trump an "asset," causing customers to call for a boycott.Photo illustration by Slate. Photos by Getty Images.Kevin Plank, Donald Trump.The Newest Whole Foods Has a “Produce Butcher”http://www.slate.com/blogs/business_insider/2017/02/08/a_manhattan_whole_foods_has_a_produce_butcher_to_chop_customers_fruits_and.html
<p><em><a href="http://www.businessinsider.com/whole-foods-now-has-a-produce-butcher-2017-2">This post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Whole Foods' newest store has hired someone to cut up your fruits and vegetables for you.</p>
<p>The store near New York's Bryant Park, which opened last week, features a &quot;Produce Butcher&quot; who will chop, dice, and mince whatever vegetables customers need prepared. Whole Foods will charge $1 per pound, or per individually priced item,<a href="http://www.foodbeast.com/news/whole-foods-produce-butcher/"> Foodbeast reported. </a></p>
<p>The Food Butcher isn't the only upscale innovation that Whole Foods is offering at the new Manhattan location. The grocery store also has three full-service restaurants, including a sushi restaurant&nbsp;and the Harbor Bar, which serves wine and 24 beers on tap.</p>
<p>Whole Foods has been <a href="http://www.businessinsider.com/whole-foods-adopts-walmarts-low-prices-tagline-2016-11">trying to shed&nbsp;its &quot;whole paycheck&quot; reputation</a> with new marketing and the launch of its&nbsp;more inexpensive 365 chain. However, at this new Manhattan location, luxury still seems to reign supreme.</p>
<p>See Also: <a href="http://www.businessinsider.com/macys-under-pressure-to-drop-ivanka-trump-2017-2">Macy's is under pressure to drop Ivanka Trump</a></p>Wed, 08 Feb 2017 13:52:32 GMThttp://www.slate.com/blogs/business_insider/2017/02/08/a_manhattan_whole_foods_has_a_produce_butcher_to_chop_customers_fruits_and.htmlKate Taylor2017-02-08T13:52:32ZBusinessThe Newest Whole Foods Has a “Produce Butcher”235170208001whole foodsKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/02/08/a_manhattan_whole_foods_has_a_produce_butcher_to_chop_customers_fruits_and.htmlfalsefalsefalseThe newest Whole Foods has a "produce butcher"A Manhattan Whole Foods will chop your fruits and vegetables for $1 per pound.Photo by Justin Sullivan/Getty ImagesCustomers shop for produce at a Whole Foods market in 2014 in San Francisco, California.&nbsp;Snapchat Is Cracking Down on Racy and Misleading Content in Its Discover Sectionhttp://www.slate.com/blogs/business_insider/2017/01/23/snapchat_is_banning_explicit_material_from_its_discover_section_as_it_prepares.html
<p><em>This <a href="http://www.businessinsider.com/snapchat-cracks-down-on-sexual-and-misleading-stories-in-discover-2017-1">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Snapchat will start cracking down on overtly sexual and misleading stories in its Discover section, a company spokesperson told Business Insider on Monday. Publishers who participate in Snapchat Discover will be required to not show &quot;sensitive content, including profanity, overly sexualized content, and violent content.&quot; Snapchat is leaving an exception for content that publishers deem newsworthy, as long as a warning is shown first.</p>
<p>The decision comes as Snapchat parent company Snap Inc. prepares to go public at a potential $25 billion valuation in the coming weeks. Snap was also <a href="http://www.theverge.com/2016/7/7/12122998/snapchat-discover-lawsuit-sexual-content-minors">sued last year by the mother of a 14-year-old boy</a> who claimed the app regularly showed explicit content to minors without proper age warnings. The lawsuit has since been&nbsp;settled outside of court.</p>
<p>Snapchat's new Discover&nbsp;guidelines, which were first reported by <a href="https://www.nytimes.com/2017/01/23/technology/snapchat-discover-takes-a-hard-line-on-misleading-and-explicit-images.html?_r=0">the <em>New York Times</em></a>, are intended to &quot;keep Snapchat an informative, factual, and safe environment for everyone,&quot; according to a&nbsp;spokesperson. Snapchat will also let publishers restrict sensitive&nbsp;content from being seen by users under the age of 18 starting in February.</p>
<p>&quot;We take the responsibility of being a source of news, entertainment and information for our community of more than 150 million daily active Snapchatters very seriously,&quot; a Snap spokesperson said in an emailed statement. &quot;Snapchatters are curious about the world. They want to know about what’s important, not just what’s popular. They want to see and experience new things — unique stories from credible voices and varied perspectives.&quot;</p>
<p>Snapchat's Discover section has been <a href="http://www.businessinsider.com/snapchat-discover-tabloid-rack-2016-10">critiqued in the past</a> for its racy, tabloid-esque from publishers like the<em> Daily Mail</em>, but now the app is stressing that media outlets it works with will fact-check their stories and not falsely impersonate other publishers or people.</p>
<p>The change of tone should help Snapchat's ad offerings sit better with potential investors and keep the app from promoting&nbsp;the fake news that&nbsp;plagued Facebook in the months leading up to the presidential election.</p>
<p>See also: <a href="http://www.businessinsider.com/snapchat-partners-with-oracle-data-cloud-for-offline-purchase-ad-targeting-2017-1">Snapchat's ad targeting is starting to look more like Facebook's</a></p>Mon, 23 Jan 2017 21:06:53 GMThttp://www.slate.com/blogs/business_insider/2017/01/23/snapchat_is_banning_explicit_material_from_its_discover_section_as_it_prepares.htmlAlex Heath2017-01-23T21:06:53ZBusinessSnapchat Is Cracking Down on Racy and Misleading Content in Its Discover Section235170123001snapchatAlex HeathBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/01/23/snapchat_is_banning_explicit_material_from_its_discover_section_as_it_prepares.htmlfalsefalsefalseSnapchat is cracking down on racy and misleading content in its Discover sectionSnapchat's Discover is aiming to become a more credible news platform.Snapchat screenshot / Business InsiderSnapchat's Discover section is updated with new stories from participating publishers every day.A Construction Company Put Trump’s “Wall” in Its Super Bowl Ad. The Ad Was Rejected.http://www.slate.com/blogs/business_insider/2017/01/18/a_rejected_super_bowl_ad_included_trump_s_wall.html
<p><em>This <a href="http://www.businessinsider.com/fox-rejects-84-lumbers-super-bowl-ad-2017-1">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Fox, this year's Super Bowl broadcaster, has rejected a big game ad from construction-supply company 84 Lumber because it was deemed too political, <a href="http://www.campaignlive.com/article/fox-rejects-84-lumbers-super-bowl-script-its-too-political/1421221#MIDBU0iU0e40zjAw.99?mod=djemCMOToday">Campaign first reported</a>.</p>
<p>The ad had featured a &quot;wall&quot; blocking people in the U.S. from looking for work. The idea behind the 90-second spot—a huge ad buy likely costing the company around $15 million—was to boost recruitment at the company.</p>
<p>Advertising agency Brunner has now been sent back to the drawing board and a new ad is currently in production, ready to air during the big game on February 5. However, 84 Lumber still plans to put the original spot online on the same day.</p>
<p>Brunner sent <em>Business Insider</em> this statement on behalf of Brunner CEO Michael Brunner:</p>
<p>Fox&nbsp;rejected our original commercial because they determined that some of the imagery, including “the wall” would be too controversial. So we went back and revised the spot to make it acceptable to them. 84 Lumber challenged us to create a thought-provoking 90 second spot that would tell the world who 84 Lumber is and what they stand for – a company looking for people with grit, determination and heart, no matter who they are, where they come from, or what they look like. And while that full story will no longer be told on TV at the Super Bowl, we all believe too strongly in that message to leave it on the editing room floor. So we are going to launch it during the Super Bowl and make the full story available online.</p>
<p>Fox and 84 Lumber declined to comment.</p>
<p>Fox is reportedly charging advertisers just over $5 million for a 30-second advertising slot during the Super bowl. In December, <a href="http://variety.com/2016/tv/news/fox-super-bowl-commercials-tv-advertising-5-million-1201937121/">Variety reported that it had sold almost 90% of its Super Bowl ad inventor</a><u>y</u>.</p>
<p><a href="http://www.businessinsider.com/all-the-super-bowl-ads-so-far-2017-1">Keep up to date with all the latest Super Bowl advertising news here.</a></p>
<p>Now Watch: <a href="http://www.businessinsider.com/wpp-ceo-sir-martin-sorrell-ces-interview-2017-1">WPP CEO Sir Martin Sorrell on Snapchat becoming the 'third force' to Google and Facebook</a></p>Wed, 18 Jan 2017 18:47:12 GMThttp://www.slate.com/blogs/business_insider/2017/01/18/a_rejected_super_bowl_ad_included_trump_s_wall.htmlLara O'Reilly2017-01-18T18:47:12ZBusinessA Construction Company Put Trump’s “Wall” in Its Super Bowl Ad. The Ad Was Rejected.235170118001Lara O'ReillyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/01/18/a_rejected_super_bowl_ad_included_trump_s_wall.htmlfalsefalsefalseA construction company put Trump's "wall" in its Super Bowl ad. It was rejected.The ad will still air online the same day.Andrew Burton/Getty ImagesA woman walks past an advertisement referencing Super Bowl XLVIII on January 24, 2014 in Times Square in New York City.&nbsp;This Company Is Suing Because It Thinks Snapchat Ripped Off Its Eyeball Logohttp://www.slate.com/blogs/business_insider/2017/01/13/snapchat_is_being_sued_for_trademark_infringement_over_its_spectacles_eyeball.html
<p><em>This <a href="http://www.businessinsider.com/snap-inc-sued-eyebobs-allegedly-using-eyeball-logo-2017-1">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider</a>.</em></p>
<p>Snapchat's parent company, Snap, is being sued over&nbsp;the eyeball logo featured on Spectacles vending machines.</p>
<p>Glasses brand Eyebobs is claiming trademark infringement in a lawsuit filed&nbsp;in Minnesota federal district court. The company claims it registered <a href="http://tmsearch.uspto.gov/bin/showfield?f=doc&amp;state=4810:mhekqg.2.3">an eyeball logo in the US in 2008.</a></p>
<p>A second&nbsp;eyeball logo against a yellow background <a href="http://tmsearch.uspto.gov/bin/showfield?f=doc&amp;state=4810:mhekqg.2.1">was registered in August last year</a>.</p>
<p>Eyebobs is claiming trademark infringement, false&nbsp;designation of origin, and deceptive trade practices.</p>
<p>The eyeball in question features on the vending machines&nbsp;Snapchat has dotted around the U.S. to dispense Spectacles. The logo also featured prominently on <a href="http://uk.businessinsider.com/where-are-snapchat-spectacles-new-york-city-bot-location-nyc-2016-11">a dedicated Spectacles pop-up store&nbsp;in New York</a>.</p>
<p>Eyebobs claims the similarity between the two eyeballs will &quot;cause confusion&quot; among customers and damage its business. The brand not only wants Snap to stop using the offending eyeball, but to hand over an&nbsp;unspecified amount of money &quot;to be proven at trial&quot;.</p>
<p>Snap&nbsp;has yet to response to a request for comment.</p>
<p>It isn't clear that Snap will take the claim seriously. A number of companies are trying to sue the company for infringements, with Canadian firm Investel <a href="http://www.theglobeandmail.com/technology/investel-files-canadian-patent-infringement-case-against-snapchat/article31529096/">filing a claim in August</a> over Snapchat's geofilters, and <a href="http://www.hollywoodreporter.com/thr-esq/snap-interactive-wants-judge-bar-snapchat-changing-name-snap-941223">Snap Interactive trying to prevent the rebrand to Snap.</a></p>
<p>Now Watch: <a href="http://www.businessinsider.com/9-iphone-tricks-you-might-not-have-known-2017-1">9 iPhone tricks that will make your life easier in 2017</a></p>Fri, 13 Jan 2017 18:47:56 GMThttp://www.slate.com/blogs/business_insider/2017/01/13/snapchat_is_being_sued_for_trademark_infringement_over_its_spectacles_eyeball.htmlShona Ghosh2017-01-13T18:47:56ZBusinessThis Company Is Suing Because It Thinks Snapchat Ripped Off Its Eyeball Logo235170113001snapchatShona GhoshBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/01/13/snapchat_is_being_sued_for_trademark_infringement_over_its_spectacles_eyeball.htmlfalsefalsefalseThis company is suing because it thinks Snapchat ripped off its eyeball logo:It also kind of looks like a Minion, no?Photo illustration by Slate. Images by Snap Inc, Eyebobs.Snapchat's Spectacles vending machine (left) and the Eyebobs logo.Snapchat’s Unusual Choice to Open Its European Headquarters in the U.K.http://www.slate.com/blogs/business_insider/2017/01/10/snapchat_s_parent_company_will_make_the_u_k_its_international_headquarters.html
<p><em>This <a href="http://www.businessinsider.com/snap-makes-the-uk-its-international-headquarters-2017-1">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>Snap, the parent company of Snapchat, has chosen to base its international headquarters in the U.K., <a href="https://www.ft.com/content/a7f0295c-d434-11e6-b06b-680c49b4b4c0">the <em>Financial Times</em> first reported on Tuesday</a>.</p>
<p>The move is unusual for a U.S.-based tech firm. Companies including Facebook, Uber, and Google have chosen other European countries including Ireland and the Netherlands as their international base to take advantage of lower corporation tax rates.</p>
<p>Snap confirmed it would not be routing sales made in the U.K. through other European countries for tax reasons, saying sales in countries where Snap does not have a local office or salesforce would also be booked in the U.K.</p>
<p>Claire Valoti, the general manager of Snap Group Limited in the U.K., said in a statement: &quot;We believe in the UK creative industries. The UK is where our advertising clients are, where more than 10 million daily Snapchatters are, and where we've already begun to hire talent.&quot;</p>
<p><a href="http://uk.businessinsider.com/snapchat-makes-first-uk-hires-2015-10">Snap first opened its U.K. office in 2015</a>, and it now has 75 staff members there, many of whom have been hired from rival tech firms. <a href="http://uk.businessinsider.com/claire-valoti-is-leaving-facebook-to-head-up-snapchats-uk-office-2015-12">Valoti was hired from Facebook at the end of 2015</a>, and other recent hires include Ricky Leatham from Amazon, who leads the U.K. engineering team, and Andy Pang, who joined from Instagram to lead the company's measurement division in the region.</p>
<p>Snap Group Limited resides in a three-floor office in London's Soho neighborhood, but the company says it is set to open an additional site nearby.</p>
<p><a href="http://www.businessinsider.com/snapchat-parent-company-snap-inc-files-for-ipo-2016-11">Snap confidentially filed paperwork with the U.S. Securities and Exchange Commission last year to go public</a> in 2017. The company is seeking a valuation of $20 billion to $25 billion, a source familiar with the matter told <em>Business Insider</em> in November.</p>
<p>SEE ALSO: <a href="http://uk.businessinsider.com/snapchat-moat-measurement-uk-france-2017-1">Snapchat is making a big push on measurement in Europe</a></p>Tue, 10 Jan 2017 19:48:38 GMThttp://www.slate.com/blogs/business_insider/2017/01/10/snapchat_s_parent_company_will_make_the_u_k_its_international_headquarters.htmlLara O'Reilly2017-01-10T19:48:38ZBusinessSnapchat’s Unusual Choice to Open Its European Headquarters in the U.K.235170110001snapchatLara O'ReillyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/01/10/snapchat_s_parent_company_will_make_the_u_k_its_international_headquarters.htmlfalsefalsefalseSnapchat's unusual choice to open its European headquarters in the U.K.Most U.S. tech companies base their international headquarters in countries with low corporation tax rates.Larry Busacca/Getty Images for Time IncCEO and co-founder of Snap Inc. Evan Spiegel speaks onstage at the American Magazine Media Conference on Feb. 1, 2016.The Limited Abruptly Shut Down All Its Stores and Laid Off 4,000 Workershttp://www.slate.com/blogs/business_insider/2017/01/09/the_limited_has_shut_down_all_its_stores.html
<p><em>This <a href="http://www.businessinsider.com/the-limited-shut-down-all-its-stores-and-laid-off-4000-workers-2017-1">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>The Limited on Sunday shut down all 250 of its stores and laid off 4,000 workers. The women's clothing store chain announced the closures on Saturday in a statement on its website.</p>
<p>&quot;We're sad to say that all The Limited stores nationwide have officially closed their doors,&quot; the statement reads. &quot;But this isn't goodbye. The styles you love are still available online—we're just a quick click away 24 hours a day.&quot;</p>
<p>Sun Capital, the private-equity firm that owns The Limited, attributed the decision in part to falling foot traffic at shopping malls.</p>
<p>&quot;We have worked very hard and made significant investments over nine years to improve operations and create a sustainable business at The Limited,&quot; Sun Capital <a href="http://www.reuters.com/article/us-suncapital-limitedstores-idUSKBN14R015">told Reuters</a> in an emailed statement. &quot;In an increasingly challenging environment for mall-based retail and women's apparel, we are very disappointed that the company has had to make the difficult decision to close its retail locations.&quot;</p>
<p>Sears and Macy's, which are also primarily based in malls, have also announced mass closures this year. Sears is planning to close <a href="http://www.businessinsider.com/list-of-sears-and-kmart-stores-closing-2017-1">150 namesake stores and Kmart stores</a> this year, and Macy's is planning to close another 100 stores—<a href="http://www.businessinsider.com/list-of-macys-stores-closing-2017-1">68 of which</a> were announced within the last week.</p>
<p>SEE ALSO: <a href="http://www.businessinsider.com/list-of-macys-stores-closing-2017-1">Macy's is closing 68 stores — here's where they will shut down</a></p>Mon, 09 Jan 2017 21:22:07 GMThttp://www.slate.com/blogs/business_insider/2017/01/09/the_limited_has_shut_down_all_its_stores.htmlHayley Peterson2017-01-09T21:22:07ZBusinessThe Limited Abruptly Shut Down All Its Stores and Laid Off 4,000 Workers235170109001clothingHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/01/09/the_limited_has_shut_down_all_its_stores.htmlfalsefalsefalseThe Limited abruptly shut down all of its stores and laid off 4,000 people.The company will now be online-only.Karen Bleier/AFP/Getty ImagesThe Limited doesn't want to sell things here anymore.Introducing Trump Fish, Iraqi Kurdistan’s First Donald Trump–Themed Restauranthttp://www.slate.com/blogs/business_insider/2017/01/04/trump_fish_is_iraqi_kurdistan_s_first_donald_trump_themed_restaurant.html
<p><em>This <a href="http://www.businessinsider.com/trump-themed-fish-restaurant-opens-in-northern-iraq-2017-1">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>A Donald Trump-themed restaurant—one that's not owned by the president-elect himself—just opened in&nbsp;the heart of Iraqi Kurdistan. Called Trump Fish, its specialty&nbsp;is&nbsp;carp, which comes grilled or fried.</p>
<p>Local businessman Nadyar Zawiti picked the name&nbsp;after hearing Trump's promises to arm Kurdish forces to&nbsp;help defeat ISIS, he <a href="http://edition.cnn.com/2017/01/02/middleeast/donald-trump-themed-restaurant-iraq/index.html">told</a> CNN.</p>
<p>As <em>Atlas Obscura</em> <a href="http://www.atlasobscura.com/articles/something-called-trump-fish-apparently-just-opened-in-kurdistan">points out</a>, Zawiti stole the&nbsp;cartoon logo of Trump's face from <a href="http://uproxx.com/sports/donald-trump-nfl-logos/">a 2015 <em>Uproxx</em> story</a>, which mocked Trump's failure to own an NFL franchise. The San Diego Chargers logo forms his hair.</p>
<p>The&nbsp;restaurant is likely the first one that&nbsp;includes Trump in its logo but was not launched or licensed by&nbsp;the president-elect. Trump&nbsp;has <a href="http://www.trump.com/entertainment/dining/">six</a> of his own restaurants in Chicago, New York City, Waikiki, and Las Vegas.</p>
<p>Zawiti <a href="http://edition.cnn.com/2017/01/02/middleeast/donald-trump-themed-restaurant-iraq/index.html">said</a> that he&nbsp;dreams of&nbsp;opening another Trump Fish location near the White House someday—if Trump invites him.</p>
<p>For a joint that pays homage (or, perhaps, pokes fun) at the president-elect, the fish-centric menu may be fitting,&nbsp;considering Trump has previously admitted&nbsp;he&nbsp;is a fan of <a href="http://mashable.com/2016/02/18/donald-trump-mcdonalds-kfc/#jazVsAY5ePq4">McDonald’s &quot;Fish Delight&quot; sandwiches</a>.</p>
<p>See also: <a href="http://www.businessinsider.com/donald-trumps-trump-grill-vanity-fair-review-2016-12">We ate at the Trump Grill restaurant that Vanity Fair destroyed—here's what happened.</a></p>Wed, 04 Jan 2017 20:10:00 GMThttp://www.slate.com/blogs/business_insider/2017/01/04/trump_fish_is_iraqi_kurdistan_s_first_donald_trump_themed_restaurant.htmlLeanna Garfield2017-01-04T20:10:00ZBusinessIntroducing Trump Fish, Iraqi Kurdistan’s First Donald Trump–Themed Restaurant235170104001donald trumpLeanna GarfieldBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2017/01/04/trump_fish_is_iraqi_kurdistan_s_first_donald_trump_themed_restaurant.htmlfalsefalsefalseIntroducing Trump Fish, Iraqi Kurdistan's first Donald Trump-themed restaurant:Its speciality is carp.Ari Jalal/ReutersTry the carp.The CEO of Coca-Cola Plans to Step Downhttp://www.slate.com/blogs/business_insider/2016/12/09/ceo_of_coca_cola_muhtar_kent_announces_that_he_will_step_down.html
<p><em>This <a href="http://www.businessinsider.com/coca-cola-ceo-muhtar-kent-stepping-down-2016-12">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Muhtar Kent, CEO of Coca-Cola, will step down as CEO of the company as of May 1, 2017,&nbsp;<a href="http://www.coca-colacompany.com/press-center/press-releases/the-coca-cola-company-announces-senior-leadership-succession-plan">according to a release from&nbsp;the company.</a>&nbsp;Kent will be replaced by current COO James Quincey, who has been at Coca-Cola for 20 years, <a href="http://www.coca-colacompany.com/press-center/press-releases/the-coca-cola-company-announces-senior-leadership-succession-plan">according to&nbsp;the firm.</a></p>
<p>Kent has served as CEO since 2008 and will say&nbsp;at Coca-Cola as Chairman of the Board of&nbsp;Directors.</p>
<p>“It has been the most wonderful and unique privilege to serve as Chairman and CEO of our great company over the past eight years,” said Kent in <a href="http://www.coca-colacompany.com/press-center/press-releases/the-coca-cola-company-announces-senior-leadership-succession-plan">the release from Coca Cola</a>.</p>
<p>“This transition comes at a time of important evolution for The Coca-Cola Company. Our journey to refocus on our core business model of building strong global brands, enhancing sustainable customer value and leading a strong, dedicated franchise system is well under way.&quot;</p>
<p>The shift comes as Coca-Cola and other soda manufacturers face pressures from health-focused consumers. Soda sales, the backbone for the company, have <a href="http://www.businessinsider.com/coca-cola-soda-sales-down-by-volume-2016-7">been sliding in recent years</a> falling <a href="http://www.businessinsider.com/people-drinking-less-coke-and-pepsi-2016-3">1.2 percent in 2015 and 0.9 percent in 2014.</a> Additionally the threat of <a href="http://www.businessinsider.com/san-francisco-soda-tax-hurts-coke-and-pepsi-2016-11">sugar and soda taxes</a> in cities such as San Francisco have popped up in recent years.</p>
<p>Due to this decline, Coca-Cola is&nbsp;attempting to <a href="http://www.businessinsider.com/cokes-plan-to-save-the-soda-industry-2016-9">find new ways to grow&nbsp;the company</a> including new recipes and smaller containers.</p>
<p>Warren Buffett, who has long owned a large stake in Coca-Cola was also supportive of the move.</p>
<p>&quot;As Chairman and CEO, Muhtar has been an excellent steward of Coca-Cola’s business over the last eight years and I am thankful for the leadership he has provided to put in place the right vision, strategy and thoughtful succession plan for long-term success,&quot; said Buffett in the press release. &quot;I know James and like him, and believe the company has made a smart investment in its future with his selection.&quot;</p>
<p>Following the news, Coca-Cola stock is up just over 1 percent in premarket trading.</p>
<p>See also: <a href="http://www.businessinsider.com/people-drinking-less-coke-and-pepsi-2016-3">Coke and Pepsi are facing a terrifying reality</a></p>Fri, 09 Dec 2016 16:06:21 GMThttp://www.slate.com/blogs/business_insider/2016/12/09/ceo_of_coca_cola_muhtar_kent_announces_that_he_will_step_down.htmlBob Bryan2016-12-09T16:06:21ZBusinessThe CEO of Coca-Cola Plans to Step Down235161209001coca-colacoca colaBob BryanBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/12/09/ceo_of_coca_cola_muhtar_kent_announces_that_he_will_step_down.htmlfalsefalsefalseThe CEO of Coca-Cola plans to step downTough times for the core soda biz.Photo by EITAN ABRAMOVICH/AFP/Getty ImagesCoca Cola Company Chairman and Ceo Muhtar Kent speaks during the Argentina Business and Investment Forum in Buenos Aires, Argentina, on September 13, 2016.&nbsp;Yep, Marijuana Legalization Is Bad News for Beer Saleshttp://www.slate.com/blogs/business_insider/2016/12/07/beer_sales_take_a_hit_in_states_where_marijuana_is_legal.html
<p><em>This <a href="http://www.businessinsider.com/legal-marijuana-weighs-on-beer-sales-2016-12">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider. </a></em></p>
<p>Beer sales are taking a hit in states where marijuana is legal.</p>
<p>So far this year, beer volumes&nbsp;have dropped roughly 2 percent in Colorado, Oregon, and Washington, which have all legalized recreational pot, according to Neilsen data cited in a recent&nbsp;report from Cowen &amp; Co.</p>
<p>At the same time, marijuana consumption has grown&nbsp;in those states.</p>
<p>The data indicates that many beer drinkers are swapping their six-packs for marijuana&nbsp;instead, and that has&nbsp;major implications for the beer industry—especially for makers of cheaper beers like&nbsp;Anheuser-Busch and Molson Coors Brewing Company.</p>
<p>&quot;Mainstream beer&quot; including Bud Light, Coors Light, Miller Lite, is &quot;under siege&quot; from legal marijuana, with volumes down 4.4 percent in the states studied, according to Cowen and Co. analysts.</p>
<p>Craft beer sales growth is&nbsp;slowing in those states, but not to the same degree.</p>
<p>The trends show significant overlap between buyers of cheaper beers and users of marijuana.</p>
<p>&quot;The pressure we are seeing on lower-priced beers is consistent with the trends we are seeing in cannabis use by income group nationally,&quot; analysts wrote. &quot;Indeed, while cannabis incidence has been on the rise nationally, over the last 10 years (through 2014, the most recently available) we have seen the biggest increases among lower-income households, where cannabis use is also highest.</p>
<p>As additional states consider legalizing marijuana, beer companies will be at an even greater risk.</p>
<p>&quot;With&nbsp;Anheuser-Busch and Molson Coors Brewing Company&nbsp;controlling roughly 70% of the overall beer category in the US, there is clear risk that growing cannabis use will weigh on their businesses,&quot; analysts wrote.</p>
<p>See also: <a href="http://www.businessinsider.com/sears-problems-loom-large-2016-12">Sears is on the brink of catastrophe as store closures loom and top execs flee the company</a></p>Wed, 07 Dec 2016 20:11:12 GMThttp://www.slate.com/blogs/business_insider/2016/12/07/beer_sales_take_a_hit_in_states_where_marijuana_is_legal.htmlHayley Peterson2016-12-07T20:11:12ZBusinessYep, Marijuana Legalization Is Bad News for Beer Sales235161207001marijuanabeerHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/12/07/beer_sales_take_a_hit_in_states_where_marijuana_is_legal.htmlfalsefalsefalseYep, marijuana legalization is bad news for beer companies:Beer volumes dropped by 2 percent this year in Colorado, Oregon, and Washington.Photo by Sean Gallup/Getty ImagesData shows a significant overlap between marijuana users and cheap beer drinkers.&nbsp;For the Second Time, Howard Schultz Is Stepping Down as Starbucks’ CEOhttp://www.slate.com/blogs/business_insider/2016/12/02/starbucks_announced_its_ceo_howard_schultz_will_step_down.html
<p><em>This <a href="http://www.businessinsider.com/starbucks-ceo-howard-schultz-steps-down-2016-12">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider. </a></em></p>
<p>Starbucks CEO Howard Schultz is stepping down next year, the company announced on Thursday.</p>
<p>Schultz will be replaced by Starbucks' president and COO, Kevin Johnson, effective April 3. Johnson has been a member of Starbucks' board of directors for seven years.</p>
<p>Schultz will&nbsp;be appointed executive chairman. According to the company, he will shift his focus to Starbucks' higher-end Reserve line and the company's social initiatives.</p>
<p>&quot;As I focus on Starbucks next wave of retail innovation, I am delighted that Kevin Johnson—our current president, COO, a seven-year board member, and my partner in running every facet of Starbucks business over the last two years—has agreed to assume the duties of Starbucks chief executive officer,&quot; Schultz said in a statement published on Starbucks' website.</p>
<p>Starbucks shares were down roughly 3 percent in after-hours trading following the announcement.</p>
<p>In a call with investors on Thursday, Schultz emphasized he would continue to&nbsp;play an active role in the&nbsp;business. &quot;I'm not leaving the company. I'm here every single day,&quot; he said.</p>
<p>Schultz&nbsp;said that Johnson &quot;is&nbsp;better prepared on a go-forward basis than I am.&quot;</p>
<p>According to&nbsp;Johnson, the pair began conversations in May about&nbsp;what future roles they wanted to have&nbsp;at the company. There are no other planned leadership changes.</p>
<p>Schultz has been instrumental in growing Starbucks' business, joining the company&nbsp;in 1982 as director of operations. He&nbsp;became CEO of Starbucks Corporation <a href="http://www.businessinsider.com/rags-to-riches-story-of-howard-schultz-2015-5">in 1987</a>.</p>
<p>He left the position of CEO once before, <a href="http://www.seattletimes.com/business/starbucks-shake-up-schultz-back-as-ceo/">in 2000</a>. Schultz returned to Starbucks as CEO in 2008 after a hiatus <a href="http://www.businessinsider.com/howard-schultz-turned-starbucks-around-2011-6?op=1">during which he remained chairman</a> to lead the company's financial turnaround.</p>
<p>&quot;The differences between then and now couldn't be greater. In 2007, 2008, the country was going through a cataclysmic&nbsp;financial crisis that affected all companies, especially consumer brands, and Starbucks&nbsp;was not immune,&quot; Schultz said in Thursday's call.</p>
<p>Schultz said&nbsp;he believes Starbucks' management team today has capabilities and experience the company lacked in 2000.</p>
<p>&quot;On a personal level, I don't think&nbsp;I was as prepared then&nbsp;as I am now, primarily because of my confidence in the strategy, my confidence in the team, and my deep deep respect for Kevin Johnson&nbsp;as a servant leader,&quot; Schultz said.</p>
<p>In recent months, Schultz has emphasized the importance of Starbucks' premium&nbsp;Reserve brand, as well as the company's ethical responsibilities.</p>
<p>&quot;It's clear to the me that the universal interest in premium retail experiences is not skewed to only the U.S.,&quot; Schultz <a href="http://www.businessinsider.com/starbucks-roastery-in-tokyo-reveals-brands-plans-for-the-future-2016-10">told <em>Business Insider</em> in October</a>. &quot;I think there is a bigger trend here—as companies face the threat of e-commerce and mobile shopping, the burden of responsibility of the bricks and mortar retailers is to create a very immersive, dynamic experience.&quot;</p>
<p>Schultz is also&nbsp;known for his&nbsp;outspoken political opinions.&nbsp;The CEO has launched campaigns to address issues including racism, homelessness, and veteran unemployment. <a href="http://www.businessinsider.com/starbucks-ceo-howard-schultz-endorses-hillary-clinton-2016-9">In September</a> he endorsed Democrat Hillary Clinton for president.</p>
<p>Schultz's political involvement has led some to&nbsp;speculate that his exit as CEO opens a door for him to run for president. Schultz denied that he had plans to&nbsp;run for public office in an interview with the <em>New York Times</em> published on Thursday.</p>
<p>When asked if he may change his mind in the future, he told the&nbsp;<em>Times</em>, <a href="http://www.nytimes.com/2016/12/01/business/dealbook/starbucks-chief-howard-schultz-to-step-down-next-year.html?_r=0">&quot;That's the way I feel today.&quot; </a></p>
<p>The company announced the news via&nbsp;a&nbsp;release on Starbucks' website. Here's the release in full:</p>
<blockquote>
&quot;Starbucks Corporation (NASDAQ: SBUX) today announced that
<a href="https://news.starbucks.com/leadership/kevin-johnson">Kevin Johnson</a>, president and chief operating officer and a 7-year member of the Starbucks Board of Directors, will expand his responsibilities and assume the role and responsibilities of president and chief executive officer, effective April 3, 2017.
</blockquote>
<blockquote>
&quot;Also effective April 3, 2017,
<a href="https://news.starbucks.com/leadership/howard-schultz">Howard Schultz</a>, chairman and ceo, will be appointed executive chairman and will shift his focus to innovation, design and development of Starbucks Reserve Roasteries around the world, expansion of the Starbucks Reserve retail store format and the company's social impact initiatives. In this new role Schultz will continue to serve as chairman of the Board.
</blockquote>
<blockquote>
&quot;'Starbucks consistently outperforms the retail industry because our stores, our offerings and the experiences our partners create make us a destination. The best evidence of the success of the core strategy driving our business is that we continue to deliver quarter after quarter of record, industry leading revenue, comp sales and profit growth, and that the newest classes of Starbucks stores continue to deliver record-breaking revenues, AUV's and ROI&nbsp;both in the U.S. and around the world,' said Schultz. 'As I focus on Starbucks next wave of retail innovation, I am delighted that Kevin Johnson&nbsp;–&nbsp;our current president,&nbsp;COO, a seven-year board member and my partner in running every facet of Starbucks business over the last two years&nbsp;–&nbsp;has agreed to assume the duties of Starbucks chief executive officer. This move ideally positions Starbucks to continue profitably growing our core business around the world into the future.&quot;
</blockquote>
<blockquote>
As president and chief operating officer since March 2015, Johnson has led the company's global operating businesses across all geographies as well as the core support functions of Starbucks supply chain, marketing, human resources, technology, and mobile and digital platforms. Johnson has been a Starbucks board member since 2009, and will continue to serve as a member of the Board.
</blockquote>
<blockquote>
&quot;Over the past two decades, I have grown to know Starbucks first as a customer, then as a director on the board, and for the past two years as a member of the management team. Through that journey, I fell in love with Starbucks and I share Howard's commitment to our mission and values and his optimism for the future,&quot; said Johnson. &nbsp;“It is an honor for me to serve the more than 300,000 partners who proudly wear the green apron and I consider it a privilege to work side-by-side with Howard, our world-class board of directors, and a very talented leadership team. Together, we will reaffirm our leadership in all things coffee, enhance the partner experience and exceed the expectations of our customers and shareholders. &nbsp;We believe in using our scale for good and having positive social impact in the communities we serve around the world.”
</blockquote>
<p>Johnson's career spans 33 years in the technology industry which included a 16-year career at Microsoft and a five-year tour as CEO of Juniper Networks. At Microsoft, he led worldwide sales and marketing and became the president of the Platforms Division. In 2008, he was appointed to the National Security Telecommunication Advisory Committee where he served Presidents George W. Bush and Barack Obama. He joined the Starbucks board in 2009 and the management team in 2015.</p>Fri, 02 Dec 2016 16:04:24 GMThttp://www.slate.com/blogs/business_insider/2016/12/02/starbucks_announced_its_ceo_howard_schultz_will_step_down.htmlKate Taylor2016-12-02T16:04:24ZBusinessFor the Second Time, Howard Schultz Is Stepping Down as Starbucks’ CEO235161202001starbucksKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/12/02/starbucks_announced_its_ceo_howard_schultz_will_step_down.htmlfalsefalsefalseFor the second time, Starbucks CEO Howard Schultz is stepping down.This time he says it's differentStephen Brashear/Getty ImagesStarbucks Chairman and CEO Howard Schultz speaks during Starbucks annual shareholders meeting March 18, 2015 in Seattle, Washington.Sabra Recalls Nearly All Hummus Products Over Listeria Concernshttp://www.slate.com/blogs/business_insider/2016/11/21/sabra_hummus_recalls_its_products_due_to_listeria_concerns.html
<p><em>This <a href="http://www.businessinsider.com/sabra-hummus-recall-2016-11">post</a> originally appeared on <a>Business Insider. </a></em></p>
<p>Sabra Dipping Co. has issued a recall for nearly every one of its hummus products due to Listeria contamination concerns.</p>
<p>The recall includes 57 varieties of the popular hummus brand, which covers everything it makes except for Sabra Organic Hummus, Sabra Salsa, Sabra Guacamole, and Sabra Greek Yogurt Dips.</p>
<p>The company issued the recall because the infectious organism Listeria monocytogenes was found at the manufacturing facility where Sabra hummus is made, according <a href="http://www.fda.gov/Safety/Recalls/ucm529967.htm">to a notice from the Food and Drug Administration</a>.</p>
<p>Symptoms of a Listeria infection include high fever, severe headaches, stiffness, nausea, abdominal pain, and diarrhea.</p>
<p>It can cause miscarriages and stillbirths among pregnant women as well as &quot;serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems,&quot; according to the FDA.</p>
<p>The recall includes Sabra Hummus varieties with a &quot;Best Before&quot; date through January 23, 2017.</p>
<p>Sabra released a statement assuring customers that none of its products have tested positive for Listeria, even though it was found in a manufacturing facility.</p>
<p>The company said:</p>
<blockquote>
We have invested heavily in technology and enhancing our processes and protocols, with guidance and input from external experts, to develop and put in place industry-leading food safety procedures, such as testing finished product from the production line every two minutes for pathogens including listeria. We want to reassure our consumers that our procedures include extensive finished product testing, and no products tested positive for contaminants. We are taking action because consumer safety is a top priority.
</blockquote>
<p>See also: <a href="http://www.businessinsider.com/macys-is-adding-backstage-outlets-to-its-stores-2016-11">Macy's shoppers developed a habit during the recession — and it's haunting the brand to this day</a></p>Mon, 21 Nov 2016 18:07:45 GMThttp://www.slate.com/blogs/business_insider/2016/11/21/sabra_hummus_recalls_its_products_due_to_listeria_concerns.htmlHayley Peterson2016-11-21T18:07:45ZBusinessSabra Recalls Nearly All Hummus Products Over Listeria Concerns235161121001recallsHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/11/21/sabra_hummus_recalls_its_products_due_to_listeria_concerns.htmlfalsefalsefalseSabra recalls nearly all hummus products over listeria concernsBad month for the coastal elites.Photo by Spencer Platt/Getty ImagesSabra Dipping Co. previously recalled 30,000 cases of hummus due to possible contamination with Listeria in April 2015.Apple Will Charge Less to Fix iPhones Afflicted by &quot;Touch Disease&quot;http://www.slate.com/blogs/business_insider/2016/11/18/apple_will_charge_less_to_fix_touch_disease_in_iphones.html
<p><em>This <a href="http://www.businessinsider.com/iphone-6-plus-touch-disease-apple-repair-program-2016-11">post</a> originally appeard on <a href="http://www.businessinsider.com/">Business Insider</a>.</em></p>
<p>Apple announced on Thursday that it will fix certain issues with iPhone 6 Plus phones for $149, a significant discount from the $329 service charge the company had been offering users.</p>
<p>The company wrote in <a href="http://www.apple.com/support/iphone6plus-multitouch/">a service document</a>:</p>
<blockquote>
Apple has determined that some iPhone 6 Plus devices may exhibit display flickering or Multi-Touch issues after being dropped multiple times on a hard surface and then incurring further stress on the device.
</blockquote>
<blockquote>
If your iPhone 6 Plus is exhibiting the symptoms noted above, is in working order, and the screen is not cracked or broken, Apple will repair your device for a service price of $149.
</blockquote>
<p>Although Apple never uses the phrase, this is a fix for &quot;<a href="http://www.businessinsider.com/iphone-6-plus-touch-disease-what-is-it-and-what-can-i-do-2016-10">touch disease</a>.&quot;</p>
<p>The problem occurs when an internal issue in certain iPhone models — the iPhone 6 Plus, in particular — causes the display to flicker, show a gray bar at the top, and become unresponsive to touch.</p>
<p>The issue was fairly widespread, according to our readers, who emailed us frequently after we covered the issue in October. Most people were frustrated that although Apple appeared to be aware of the issue, it would still charge out-of-warranty customers $329 for a fix.</p>
<p>Apple says it will reimburse customers the difference if they already paid the $329 to get their iPhone 6 Plus fixed. Frustratingly, Apple is still claiming the issue is not caused by an engineering defect, but rather because the phones were &quot;dropped multiple times on a hard surface.&quot;</p>
<p>You can <a href="http://www.apple.com/support/iphone6plus-multitouch/">get your iPhone 6 Plus fixed</a> at Apple retail stores and authorized service providers.</p>
<p>See also: <a href="http://www.businessinsider.com/iphone-6-plus-touch-disease-what-is-it-and-what-can-i-do-2016-10">How to tell if your iPhone suffers from so-called 'Touch Disease,' and what to do next</a></p>Fri, 18 Nov 2016 17:03:01 GMThttp://www.slate.com/blogs/business_insider/2016/11/18/apple_will_charge_less_to_fix_touch_disease_in_iphones.htmlKif Leswing2016-11-18T17:03:01ZBusinessApple Will Charge Less to Fix iPhones Afflicted by &quot;Touch Disease&quot;235161118001appleiphoneKif LeswingBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/11/18/apple_will_charge_less_to_fix_touch_disease_in_iphones.htmlfalsefalsefalseApple will now cure your iPhone of "touch disease" for a reduced service charge.Apple will fix the issue for $149, a marked decrease from its usual $329 service charge.Photo by Sean Gallup/Getty Images&quot;Touch Disease&quot; causes the iPhone's display to flicker and become unresponsive to touch.&nbsp;More Than 400 Million User Accounts Exposed After Hookup Site AdultFriendFinder Is Hackedhttp://www.slate.com/blogs/business_insider/2016/11/14/hackers_steal_millions_of_user_accounts_from_adult_hookup_site.html
<p><em>This <a href="http://www.businessinsider.com/adult-dating-site-adultfriendfinder-hacked-400-million-user-accounts-stolen-october-2016-11">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a>. </em></p>
<p>Friend Finder Networks, the company behind adult dating site AdultFriendFinder has been hit with a massive hack—exposing more than 400 million user accounts.</p>
<p><a href="https://www.leakedsource.com/blog/friendfinder">The news comes via LeakedSource, a site that monitors data breaches</a>, which has obtained a copy of the stolen user accounts.</p>
<p>The 412 million accounts go back 20 years, it says, and the lion's share comes from AdultFriendFinder — almost 340 million. Another 63 million come from adult webcam site Cams.com, 7 million come from adult magazine Penthouse.com, and over a million apiece from Stripshow.comand iCams.com.</p>
<p>It's significantly larger than <a href="http://uk.businessinsider.com/the-human-cost-of-the-ashley-madison-hack-is-astronomical-2015-8">the hack of extramarital affairs dating website Ashley Madison back in 2015</a>, which saw nearly 40 million user accounts leaked to the world. Significantly less information about users has been leaked, however—while Ashley Madison included everything from photos and sexual preferences to addresses, the Friend Finder breach is limited to more basic information like email addresses, passwords, and registration dates.</p>
<p>That said, given the nature of the sites affected, it has the potential to be compromising to some users if the data starts circulating widely. In the aftermath of the Ashley Madison attack, <a href="https://www.grahamcluley.com/ashley-madison-blackmail-letter/">numerous&nbsp;users reported receiving extortion and blackmail attempts</a>.</p>
<p>Passwords were encrypted, but insecurely, and LeakedSource says it has managed to crack 99 percent of them. It's not clear who was behind the attack, though Leaked Source says it occurred in October 2016.</p>
<p>Friend Finder Networks did not immediately respond to Business Insider's request for comment. <a href="http://www.zdnet.com/article/adultfriendfinder-network-hack-exposes-secrets-of-412-million-users/">But it told ZDNet, which also verified a sample of the data, that</a> &quot;over the past several weeks, FriendFinder has received a number of reports regarding potential security vulnerabilities from a variety of sources. Immediately upon learning this information, we took several steps to review the situation and bring in the right external partners to support our investigation.&quot; (It did not directly confirm that user accounts were stolen.)</p>
<p>2016 is shaping up to be a massive year for hacks. Multiple huge data breaches have come to light in recent months (though some occurred years ago), including <a href="http://uk.businessinsider.com/yahoo-hack-by-state-sponsored-actor-biggest-of-all-time-2016-9">the theft of 360 million MySpace accounts</a>, a LinkedIn hack that took more than 100 million accounts, and the mammoth <a href="http://uk.businessinsider.com/yahoo-hack-by-state-sponsored-actor-biggest-of-all-time-2016-9">500-million-account hack of Yahoo</a>, apparently by a state-sponsored actor.</p>
<p>If a company gets breached or uses shoddy security practices, there's little users can do about it. But you can mitigate the fallout by using a different, secure password for every site or service you have an account with, storing them with a password manager app if necessary. That way, if one of your accounts is compromised, your others aren't too—because hackers often use user logins taken from one breach and try them on other sites. It's also good practice to enable two-factor authentication, where available.</p>
<p>This isn't even the first time AdultFriendFinder has been hacked. Back in May 2015, <a href="http://uk.businessinsider.com/adult-friendfinder-hacked-3-9-million-user-details-leaked-channel-4-news-report-2015-5">news broke that it&nbsp;was breached, albeit on a smaller scale</a>—3.9 million user accounts were circulating online.</p>Mon, 14 Nov 2016 18:32:39 GMThttp://www.slate.com/blogs/business_insider/2016/11/14/hackers_steal_millions_of_user_accounts_from_adult_hookup_site.htmlRob Price2016-11-14T18:32:39ZBusinessMore Than 400 Million User Accounts Exposed After Hookup Site AdultFriendFinder Is Hacked235161114001online datinghacksRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/11/14/hackers_steal_millions_of_user_accounts_from_adult_hookup_site.htmlfalsefalsefalseA massive hack of hookup site AdultFriendFinder has exposed over 400 million accounts.Better start changing your passwords.adultfriendfinder.comAdult Friend Finder's homepageThe New Gmail App Lets You Quickly Unsend Emailshttp://www.slate.com/blogs/business_insider/2016/11/07/new_gmail_app_lets_users_unsend_emails.html
<p><em>This <a href="http://www.businessinsider.com/gmail-app-iphone-unsend-email-2016-11">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Gmail for iPhone got a big refresh Monday, putting it on par with the Android version of the app.</p>
<p>But the biggest new feature is the ability to &quot;unsend&quot; emails shortly after you send them.</p>
<p>To be clear, the unsend feature doesn't mean you can pull an email out of a recipient's inbox after it has been delivered. Instead, Gmail gives you a few extra seconds after you hit send to decide if you want to cancel before the email is actually delivered.</p>
<p>A bar will pop up at the bottom of your screen after you press send. Tapping &quot;undo&quot; will take you back to your email so you can make changes or delete that message you might regret later.</p>
<p>You can <a href="https://itunes.apple.com/us/app/gmail-email-from-google/id422689480?mt=8">download the new Gmail iPhone app here</a>.</p>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/the-best-gmail-tips-tricks-and-extensions-2016-5">These 17 life hacks will change the way you use Gmail</a></p>Mon, 07 Nov 2016 20:40:01 GMThttp://www.slate.com/blogs/business_insider/2016/11/07/new_gmail_app_lets_users_unsend_emails.htmlSteve Kovach2016-11-07T20:40:01ZBusinessThe New Gmail App Lets You Quickly Unsend Emails. Phew!235161107001gmailSteve KovachBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/11/07/new_gmail_app_lets_users_unsend_emails.htmlfalsefalsefalseThe new Gmail app for iPhone lets you unsend an email immediately after sending.Definitely going to be useful.Photo by Atsushi Tomura/Getty ImagesFor those &quot;oops&quot; moments when you immediately realize you accidentally sent a regrettable email to your bossNetflix Is Coming to Cable Boxeshttp://www.slate.com/blogs/business_insider/2016/11/04/netflix_comes_to_x1_cable_boxes.html
<p><em>This <a href="http://www.businessinsider.com/netflix-comcast-x1-integration-coming-in-next-few-days-2016-11">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Netflix is coming to your cable box.</p>
<p>Earlier this year,&nbsp;Comcast and Netflix announced a deal that would put Netflix on millions of X1 cable boxes in the US. Now the companies have confirmed that this will happen next week (though one tipster said Netflix had already arrived on his X1 box).</p>
<p>&quot;X1 customers with Netflix subscriptions will be able to easily browse and access over the internet the extensive online collection of Netflix TV shows and movies alongside the live, on demand, DVR and web programming included with their Xfinity TV subscription,&quot; the companies wrote in a statement.</p>
<p>Why is this a big deal?</p>
<p>For Netflix, the move could help jumpstart domestic subscriber growth. Though Netflix added more domestic subscribers than Wall Street expected last quarter, its sluggish growth in the U.S. has prompted some analysts to murmur about saturation.</p>
<p>But there are segments of the population that Netflix still hasn't quite conquered. There is room for growth.</p>
<p>In a recent note, analysts at UBS highlighted&nbsp;that Netflix, in the US, is underpenetrated among older consumers and those living in Middle America.</p>
<p>&quot;These consumers represent an opportunity for subscriber growth if Netflix can convince them to sign up and stay with the service,&quot; the analysts wrote. Getting Netflix onto cable boxes could help with that.</p>
<p>Beyond helping get new subscribers, integration into X1 could also help Netflix keep old ones.</p>
<p>“The Netflix integration into the X1 platform means our mutual customers will no longer need to change inputs or juggle remotes,” Netflix CEO Reed Hastings said in a statement. “Now they can seamlessly move between the Netflix app and their cable service, enjoying all the TV shows and movies they love without hassle.”</p>
<p>That makes Netflix more valuable.</p>
<p>Here are a few things the companies point out that customers can do with the integration:</p>
<ul>
<li>&quot;Launch the Netflix app by simply saying 'Netflix' into the X1 voice remote.&quot;</li>
<li>&quot;Browse Netflix content alongside other on demand movies and shows.&quot;</li>
<li>&quot;Search for an actor like 'Adam Sandler' or 'Kevin Spacey' and see everything they are in, across both Xfinity and Netflix.&quot;</li>
<li>&quot;Start from the beginning of long-running shows like 'The Walking Dead' or 'Scandal' -- with all prior seasons from Netflix and the current season from Xfinity -- available in one place.&quot;</li>
</ul>
<p>The terms&nbsp;of this deal are likely similar to the ones Netflix has with streaming boxes like Roku and Apple TV, or smaller cable operators in the US.</p>
<p>In June, Morgan Stanley explained how the deal would likely work, <a href="http://www.recode.net/2016/7/5/12096380/comcast-to-let-netflix-onto-its-x1-platform-which-is-a-very-big-deal">in a reported unearthed by Recode</a>:</p>
<p>“We would expect Netflix to give up some economics, similar to other distribution partners like Apple or TiVo but we do not believe it would meaningfully alter the direction of Netflix profits over time. Payments to distribution partners are reported in marketing expenses on Netflix's consolidated financials.”</p>
<p>See also: <a href="http://www.businessinsider.com/fcc-kill-cable-box-vote-delay-2016-9">The FCC’s plan to kill the cable box just hit a roadblock</a></p>Fri, 04 Nov 2016 17:24:17 GMThttp://www.slate.com/blogs/business_insider/2016/11/04/netflix_comes_to_x1_cable_boxes.htmlNathan McAlone2016-11-04T17:24:17ZBusinessNetflix Is Coming to Cable Boxes235161104001netflixcableNathan McAloneBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/11/04/netflix_comes_to_x1_cable_boxes.htmlfalsefalsefalseNetflix is coming to cable boxes:Netflix needs to reach the olds.Photo by Ethan Miller/Getty ImagesLNetflix CEO Reed Hastings delivers a keynote address at CES 2016 on January 6, 2016 in Las Vegas, Nevada.Microsoft Just Launched a Work-Chat App to Compete With Slackhttp://www.slate.com/blogs/business_insider/2016/11/02/microsoft_launches_slack_competitor_microsoft_teams.html
<p><em>This <a href="http://www.businessinsider.com/microsoft-teams-vs-slack-2016-11">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a></em>.</p>
<p>The worst-kept secret in tech is out of the bag: After <a href="http://www.businessinsider.com/microsoft-skype-teams-slack-2016-9">months of leaks and speculation</a>, Microsoft has officially launched <a href="https://products.office.com/en-US/microsoft-teams/group-chat-software">Microsoft Teams</a>, a new work-chat app for its Office 365 suite across PCs, smartphones, and tablets.</p>
<p>Microsoft Teams is a direct competitor with Slack, the $3.8 billion Silicon Valley darling that Bill Gates reportedly talked Microsoft out of <a href="http://www.businessinsider.com/microsoft-canceled-8-billion-slack-bid-due-to-bill-gates-and-satya-nadella-pushback-2016-3">buying for $8 billion</a>. It's available in a preview program today, officially launching to everybody in 2017.</p>
<p>Teams works much like Slack or its Aussie rival, Atlassian HipChat: Teams of employees create &quot;channels,&quot; or chat rooms, where they can collaborate on projects and assignments.</p>
<p>It also integrates with chatbots and other automated systems, including Microsoft's Office suite, to post vital information (like website outages) in chat automatically. Microsoft Teams also supports voice and video chat by way of Microsoft's own Skype.</p>
<p>Microsoft Teams also has some features beyond what Slack and HipChat offer. For instance, it includes a project planning tool so you can assign tasks and check statuses right within Teams.</p>
<p>Here's a video of Microsoft Teams in action:</p>
<p>Unlike Slack or HipChat, which sell directly to companies based on how many users they have, Microsoft's main method of selling Teams will be as a part of the Office 365 subscription suite. Office 365 already contains <a href="http://www.businessinsider.com/microsoft-acquires-yammer-for-12-billion-2012-6">Yammer</a>, Microsoft's enterprise-focused social networking tool.</p>
<p>That's a big plus in getting Teams into rotation at larger enterprises that might already be Office 365 customers — and a potential minus for Slack, which has the acclaim of smaller companies but has struggled somewhat to make a serious dent in larger businesses that have more stringent requirements around security and regulatory compliance.</p>
<p>For its part, though, Slack doesn't seem worried—the startup took out a <a href="http://www.businessinsider.com/slack-open-letter-to-microsoft-in-new-york-times-2016-11">full-page ad in the <em>New York Times</em></a> to welcome Microsoft to the market.</p>
<p>See also: <a href="http://www.businessinsider.com/microsoft-skype-teams-slack-2016-9">Bill Gates talked Microsoft out of trying to buy $3.8 billion Slack — so now Microsoft is trying to kill it</a></p>Wed, 02 Nov 2016 21:00:09 GMThttp://www.slate.com/blogs/business_insider/2016/11/02/microsoft_launches_slack_competitor_microsoft_teams.htmlMatt Weinberger2016-11-02T21:00:09ZBusinessMicrosoft Just Launched a Work-Chat App to Compete With Slack235161102001microsoftMatt WeinbergerBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/11/02/microsoft_launches_slack_competitor_microsoft_teams.htmlfalsefalsefalseMicrosoft just launched a work-chat app to compete with Slack:And Slack responded with a full-page ad in the New York Times welcoming Microsoft to the market.Photo by Justin Sullivan/Getty ImagesMicrosoft CEO Satya Nadella delivers a keynote address during the 2014 Microsoft Build developer conference in San Francisco, California.Apple Is Getting Rid of the MacBook’s Iconic Startup Chimehttp://www.slate.com/blogs/business_insider/2016/10/31/macbook_s_iconic_startup_chime_is_no_longer.html
<p><em>This <a href="http://www.businessinsider.com/apple-removes-kills-iconic-startup-chime-new-macbook-pro-noise-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Apple is killing off one of its most iconic features: its startup chime.</p>
<p>The \ company is removing the distinctive noise that Macs make when they boot up, starting with the new MacBook Pro announced last week.</p>
<p><a href="https://pingie.com/2016/10/28/apple-says-goodbye-to-the-startup-chime-with-the-new-macbook-pro/">The change was first spotted by Pingie.com</a>, which tested out one of the new laptops and confirmed that the noise was no longer made.</p>
<p><a href="https://support.apple.com/en-us/HT204063">And a FAQ page that mentions the chime</a> (referred to as the &quot;startup sound&quot;) for older MacBook models makes no mention of it for the new laptop.</p>
<p>Apple has used startup chimes in its Mac computers since the 1980s, settling on the most recent chime with the iMac G3, released in 1998. But now it is finally being retired.</p>
<p>An Apple representative did not immediately respond to a request for comment, but the change has most likely been made because of the way the new MacBook Pro turns on. It doesn't come with a power button, instead turning on whenever it is opened (as long as it is charged)—so there's no need for a noise to indicate to the user that it is booting up.</p>
<p>See also: <a href="http://www.businessinsider.com/apple-macbook-touch-bar-vs-microsoft-surface-studio-2016-10">Apple is stalling for time with its new MacBooks — and Microsoft knows it</a></p>Mon, 31 Oct 2016 19:58:42 GMThttp://www.slate.com/blogs/business_insider/2016/10/31/macbook_s_iconic_startup_chime_is_no_longer.htmlRob Price2016-10-31T19:58:42ZBusinessApple Is Getting Rid of the MacBook’s Iconic Startup Chime235161031002appleRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/31/macbook_s_iconic_startup_chime_is_no_longer.htmlfalsefalsefalseApple is getting rid of the MacBook’s iconic startup chimeYour Macbook will now reboot in silence.Photo by Stephen Lam/Getty ImagesApple's newest MacBook Pro was launched last week.You Can Now Text Your Turkey Dilemmas to the Butterball Help Linehttp://www.slate.com/blogs/business_insider/2016/10/31/butterball_help_line_is_now_taking_text_messages.html
<p><em>This <a href="http://www.businessinsider.com/butterball-help-line-adds-texting-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider</a>. </em></p>
<p>For the first time ever, struggling Thanksgiving hosts can contact Butterball's iconic help line via text with questions about preparing turkey.</p>
<p>Butterball, which sells roughly 1 billion pounds of the bird a year, has been helping people cook turkey since 1981 when it began hosting a help line you could call. This is the first year you'll be able to contact the help line by sending a text message to&nbsp;1-800-BUTTERBALL.&nbsp;The text line will be open&nbsp;24/7 from&nbsp;Nov. 17 through&nbsp;Nov. 24.</p>
<p>&quot;We're just evolving based on consumers' needs,&quot; said Sue Smith, Butterball's talk line codirector who has been manning the phones for 17 years. &quot;It's the natural progression for the talk line.&quot;</p>
<p>The company employs roughly&nbsp;50 experts to answer more than&nbsp;100,000 calls every November and December.</p>
<p>As the volume of calls has increased, Smith and codirector Nicole Johnson say that Butterball has worked to open up more channels of communication.</p>
<p>While this is the first year Butterball is communicating via&nbsp;text, the company has started using Facebook, Twitter, and&nbsp;YouTube videos to help&nbsp;panicked&nbsp;cooks. The company has Spanish-speaking turkey experts on the line. As the company noticed an influx of&nbsp;men calling in with turkey questions, it hired more male talk line experts.</p>
<p>Ultimately, Smith and Johnson say that even as&nbsp;technology has evolved, most queries from callers are the same year after year.</p>
<p>Some forget&nbsp;to thaw their&nbsp;turkeys. Others don't know how big of a bird&nbsp;to buy, or simply have no idea of how to roast the bird. A few call every year for reassurance.&nbsp;Smith&nbsp;said&nbsp;one woman has called every Thanksgiving for the last 20 years for a one-on-one pep talk.</p>
<p>No matter the problem, Johnson, Smith, and 48 other Butterball employees will all be working for at least eight hours on&nbsp;Thanksgiving Day, manning the phones&nbsp;to answer your questions, whether they come via call or text.</p>
<p>See also: <a href="http://www.businessinsider.com/thanksgiving-day-shopping-is-no-longer-a-thing-2016-10">Retailers are finally realizing that starting Black Friday on Thanksgiving is a terrible idea</a></p>Mon, 31 Oct 2016 17:02:00 GMThttp://www.slate.com/blogs/business_insider/2016/10/31/butterball_help_line_is_now_taking_text_messages.htmlKate Taylor2016-10-31T17:02:00ZBusinessThe Butterball Help Line Now Takes&nbsp;Turkey Dilemmas Via Text235161031001thanksgivingKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/31/butterball_help_line_is_now_taking_text_messages.htmlfalsefalsefalseYou can now text your Turkey dilemmas to the Butterball help line:Cooking turkeys is hard. Texting is easy.Tim Boyle/Getty ImagesA Butterball Turkey Talk-Line supervisor answers questions in 2003 in Illinois.Some MLB Owners Are Laying Down Serious Cash This Campaign Cyclehttp://www.slate.com/blogs/business_insider/2016/10/30/ricketts_family_other_mlb_owners_make_massive_campaign_donations_to_clinton.html
<p><em>This <a href="http://www.businessinsider.com/mlb-owners-trump-clinton-donations-2016-10?utm_source=slate&amp;utm_medium=referral&amp;utm_term=partner">post</a> originally appeared on </em><a href="http://www.businessinsider.com/?utm_source=slate&amp;utm_medium=referral&amp;utm_term=partner">Business Insider</a><em>. </em></p>
<p>Major League Baseball owners have <a href="http://www.citizensforethics.org/major-league-baseball-owners-big-league-political-donors/">made nearly $3 million in political contributions</a> during the 2016 campaign cycle—and a handful have accounted for nearly all of that total. According to a new study from the Center for Responsibility and Ethics in Washington, no ownership group is more politically engaged at the donor level than the Ricketts family, who happen to own the Chicago Cubs—currently battling the Cleveland Indians for the World Series title.</p>
<p>And the family—which has a member, Peter Ricketts,&nbsp;serving as the Republican governor of Nebraska—has a huge ideological divide.&nbsp; </p>
<p>Laura Ricketts, a co-owner, donated $483,000 to a super PAC dedicated to supporting pro-LGBTQ candidates for office. She also contributed to a host of Democratic congressional campaigns, in addition to providing $100,000 to the Hillary Victory Fund.</p>
<p>Her brothers, Todd and Tom, combined to donate roughly $60,000 to a score of Republican House and Senate candidates while their father, Joe Ricketts, who is often closely associated with the team but does not have an official role, put $1 million behind an anti–Donald Trump super PAC earlier in the cycle. In September, he relented, and put his support behind the Republican nominee.</p>
<p>Providing the most money to Trump was Miami Marlins owner Jeffrey Loria, who sent&nbsp;$125,000 last month to Trump Victory. On the flip side, former NBA superstar and co-owner of the Los Angeles Dodgers Magic Johnson provided the most cash for Clinton, making a $250,000 donation to the Hillary Victory Fund.</p>
<p>The executive owner who&nbsp;made the largest political contribution was Robert Castellini of the Cincinnati Reds, providing more than $600,000 in funds to Republican presidential and congressional candidates. He put $50,000 into a super PAC backing Ohio Gov. John Kasich’s presidential bid, nearly $8,000 to former Florida Gov. Jeb Bush’s Right to Rise super PAC, $150,000 to an anti-Trump super PAC, as well as money that went to support Sens. Rob Portman of Ohio and Pat Toomey of Pennsylvania, and former and current House Speakers John Boehner and Paul Ryan.</p>
<p>Baltimore Orioles owner Peter Angelos also dumped money into campaigns in a similar manner as Castellini, except he was providing cash to Democrats. Angelos gave more than $270,000 to the super PAC formed to encourage Vice President Joe Biden to seek the presidency. He was the biggest donor to the super PAC Draft Biden 2016. He’s also made donations to the Hillary Victory Fund and in support of Reps. Elijah Cummings and Chris Van Hollen of Maryland as well as Sen. Patrick Leahy of Vermont.</p>
<p>Some other prominent donations included New York Mets owner Fred Wilpon giving $100,000 to a pro–Chris Christie super PAC back when the New Jersey governor was still seeking the presidency. Texas Rangers co-owner Ray Davis made a $100,000 contribution to Bush’s Right to Rise super PAC, and John Malone, an investor in the group that owns the Atlanta Braves, contributed $100,000 to a super PAC supporting Wisconsin Gov. Scott Walker’s presidential bid.</p>
<p><strong><em>See also: <a href="http://www.businessinsider.com/chicago-cubs-theo-epstein-baseball-world-series-red-sox-2016-10?utm_source=slate&amp;utm_medium=referral&amp;utm_term=partner">The Story of the Curse Killer, 42-year-old Chicago Cubs President Theo Epstein</a></em></strong></p>Sun, 30 Oct 2016 12:29:00 GMThttp://www.slate.com/blogs/business_insider/2016/10/30/ricketts_family_other_mlb_owners_make_massive_campaign_donations_to_clinton.htmlAllan Smith2016-10-30T12:29:00ZBusinessHere’s Who the Chicago Cubs Owners Are Giving Campaign Money To2351610300012016 campaignmlbbaseballAllan SmithBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/30/ricketts_family_other_mlb_owners_make_massive_campaign_donations_to_clinton.htmlfalsefalsefalseHere’s who the Chicago Cubs owners are giving campaign money to:Does the Curse of the Billy Goat apply to politics?Scott Olson/Getty ImagesDoes the Curse of the Billy Goat apply to politics?The U.S. Military Sure Loves Jack Daniel’shttp://www.slate.com/blogs/business_insider/2016/10/29/u_s_military_biggest_buyer_of_jack_daniel_s_single_barrel_whiskey.html
<p><em>This <a href="http://www.businessinsider.com/us-military-loves-jack-daniels?utm_source=slate&amp;utm_medium=referral&amp;utm_term=partner">post</a> originally appeared on </em><a href="http://www.businessinsider.com/?utm_source=slate&amp;utm_medium=referral&amp;utm_term=partner">Business Insider</a>.</p>
<p>According to Jack Daniel’s&nbsp;Master Distiller Jeff Arnett, the U.S. military buys the most&nbsp;of the brand’s premium&nbsp;Single Barrel whiskey in the world.</p>
<p>The price tag for an entire barrel of this whiskey, approximately 250 bottles, swings from $9,000 to $12,000 since no two whiskey barrels have the same volume. Single Barrel whiskey was first sold in 1997 and was such a success that the distillery created the&nbsp;“<a href="http://www.jackdaniels.com/en-us/whiskey/by-the-barrel">By the Barrel</a>” program a year later.</p>
<p>“Over the entire span of when the program has existed, the U.S. military is the largest purchaser. It has been represented by base exchanges, individual units, as well as other on-base military entities like officers’ clubs,” Arnett told <em>Business Insider</em>.</p>
<p>During a <a href="http://www.businessinsider.com/jack-daniel-whiskey-distillery-2013-12">visit to the distillery in Lynchburg, Tennessee</a>, our tour guide said it is believed that Navy&nbsp;SEAL Team 6 bought a barrel after the successful raid on Osama Bin Laden. Although, we could not confirm, Jack Daniel’s parent company Brown-Forman did share that “SEAL teams have purchased barrels before, but we can’t officially confirm SEAL Team 6.”</p>
<p>At the distillery, only 1 in 100 barrels makes the cut for the select&nbsp;94-proof&nbsp;Single Barrel whiskey. In an average 560 pound,&nbsp;53 gallon barrel, there are&nbsp;approximately 250 bottles’ worth of Jack Daniel’s Single Barrel whiskey.</p>
<p>A prospective whiskey barrel buyer is invited to <a href="http://www.businessinsider.com/jack-daniel-whiskey-distillery-2013-12">tour the distillery</a> in Lynchburg and meet with an expert <a href="http://www.businessinsider.com/what-it-takes-to-be-a-jack-daniels-official-taster-2013-12">Jack Daniel’s master taster</a> and sometimes the master distiller himself.&nbsp;The&nbsp;buyer samples whiskey from three handpicked barrels along with the expert. After the tasting, a buyer selects a barrel and then later receives the empty barrel along with approximately 250 bottles. </p>
<p>The bottles are individually numbered and personalized with a custom&nbsp;metal hang tag. The top of the barrel is also engraved before it is shipped to the buyer.&nbsp;And in the distillery’s&nbsp;Single Barrel room, the buyer gets their name engraved on a plaque. Those who buy more than one barrel are given a medallion on their tablet. MacDill Air Force Base’s plaque reflects the purchase of seven barrels of Jack Daniel’s Single Barrel whiskey.</p>
<p>According to Arnett, Jack Daniel’s derives all of its color and most of the flavor from the handmade charred oak barrels. Single Barrel whiskey sits on the&nbsp;highest level of the distillery’s barrelhouses where&nbsp;temperatures can reach up to&nbsp;120 degrees Fahrenheit. The fluctuations in temperature give this whiskey the most interaction with the barrel, and therefore a darker color and more robust flavor. </p>
<p>These <a href="http://static4.businessinsider.com/image/56544669c2814463008b4f6a-1200-900/whiskey%20differences.png">four bottles</a> show the impact time and temperature have on each whiskey product. The first bottle is whiskey directly&nbsp;from the still, next is&nbsp;Jack Daniel’s Green Label kept on the lowest floor of the barrel house,&nbsp;Old No. 7 comes from the middle floor, and&nbsp;Single Barrel whiskey is kept on the top floor of the barrelhouses.</p>
<p>The distillery’s relationship with America’s troops spans further with the creation of the&nbsp;“<a href="http://www.asymca.org/operation-ride-home">Operation Ride Home</a>”&nbsp;program. </p>
<p>“The men and women of our armed forces have been some of the best friends of Jack Daniel’s over the years, and Operation Ride Home is a continuation of our long-standing support of our nation’s military,” Arnett told <em>Business Insider</em>.</p>
<p>Since 2011, approximately&nbsp;4,606&nbsp;service members have benefited from free travel from their military bases home in order to celebrate the holidays with their families.</p>
<p>“The stories of those servicemen and women who have been able to go home for the holidays are truly heartwarming,” Arnett said.&nbsp;“There’s nothing like being with family during the holidays, and we hope everyone will join with us to get as many of these heroes home this year as possible.”</p>
<p><strong><em>See also: </em></strong><em><a href="http://www.businessinsider.com/there-might-be-a-bubble-in-the-bourbon-industry-2016-10?utm_source=slate&amp;utm_medium=referral&amp;utm_term=partner">Is the Bourbon Bubble About to Burst?</a></em></p>Sat, 29 Oct 2016 12:21:00 GMThttp://www.slate.com/blogs/business_insider/2016/10/29/u_s_military_biggest_buyer_of_jack_daniel_s_single_barrel_whiskey.htmlAmanda Macias2016-10-29T12:21:00ZBusinessThe U.S. Military Sure Loves Jack Daniel’s235161029001u.s. militaryalcoholwhiskeyAmanda MaciasBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/29/u_s_military_biggest_buyer_of_jack_daniel_s_single_barrel_whiskey.htmlfalsefalsefalseThe U.S. military sure loves Jack Daniel’s:It’s believed that Navy SEAL Team 6 bought a barrel of Jack Daniel’s premium whiskey after the successful raid on Osama Bin Laden.Scott Olson/Getty ImagesOorah!The NFL’s Ratings Are Down. Are Sales of Pizza and Wings Dropping, Too?http://www.slate.com/blogs/business_insider/2016/10/28/declining_nfl_viewership_could_hurt_sales_at_buffalo_wild_wings_and_papa.html
<p><em>This <a href="http://www.businessinsider.com/the-nfls-ratings-are-bad-news-for-restaurants-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider. </a></em></p>
<p>NFL viewership is falling, and restaurant chains like Buffalo Wild Wings and Papa John's should be worried.</p>
<p>Pro-football viewership is <a href="http://www.wsj.com/articles/nfl-executives-blame-confluence-of-events-for-ratings-declines-1475853435">down 11 percent</a>&nbsp;this year. Viewership is down by double-digit percentages for all of the NFL's prime-time spots, consisting of football on Sunday, Monday, and Thursday nights, <a href="http://www.si.com/tech-media/2016/10/04/nfl-ratings-presidential-election-donald-trump-hillary-clinton">according to <em>Sports Illustrated</em></a>.</p>
<p>For chains that rely on football fans either watching games in their restaurants or ordering takeout to watch at home, this decline could mean a slump in sales.</p>
<p>Buffalo Wild Wings addressed the issue directly <a href="http://seekingalpha.com/article/4015499-buffalo-wild-wings-bwld-q3-2016-results-earnings-call-transcript">in a call with investors</a> on Wednesday.</p>
<p>Buffalo Wild Wings COO James Schmidt said the NFL wasn't serving as the crucial sales driver it could be.</p>
<p>In general, the chain's sales on NFL game days are experiencing the same slight slump as Buffalo Wild Wings' business more widely, with overall same-store sales declining by <a href="http://www.businessinsider.com/buffalo-wild-wings-earnings-q3-2016-2016-10">1.6 percent in the third quarter</a> compared with the same quarter last year. Schmidt said, however, that the company wasn't seeing anything &quot;dramatic&quot; yet.</p>
<p>At least one analyst is worried about the chain of sports bars.</p>
<p>&quot;We believe any decline in NFL viewership, if sustained, is likely to have a pronounced negative effect on traffic at Buffalo Wild Wings,&quot; Maxim Group analyst Stephen Anderson wrote to clients before the earnings announcement. Anderson cut his &quot;target price&quot; on the company's stock to $155, down from $170, <a href="http://www.barrons.com/articles/are-nfl-ratings-red-flag-for-buffalo-wild-wings-1475274739?mod=bol-social-tw">Barron's reports</a>.</p>
<p>For now, Schmidt said, the success of teams in certain markets has been key to keeping customers coming to the chain.</p>
<p>&quot;This year we've got Minnesota playing well; Dallas is playing well; and out in LA, you've got the Rams having moved back to LA and Oakland Raiders are having a good season,&quot; Schmidt said. &quot;So that helps to lift some of our bigger markets.&quot;</p>
<p>The NFL is a huge sales driver at Buffalo Wild Wings, and even small changes to the league's schedule can have major consequences for the chain. Last year, the company said having one fewer week of football in the third quarter because of scheduling <a href="http://www.businessinsider.com/nfl-is-hurting-buffalo-wild-wings-sales-2015-10">negatively affected same-store sales</a> by 80 basis points (almost 1 percentage point).</p>
<p>Buffalo Wild Wings isn't alone in leaning on the NFL to boost sales. Pizza and wings chains, especially those with a high-percentage of takeout and delivery sales, similarly rely on NFL games to drive traffic.</p>
<p>Last year, Wingstop attributed a <a href="http://seekingalpha.com/article/3654826-wingstops-wing-ceo-charlie-morrison-q3-2015-results-earnings-call-transcript?part=single">70-basis-point</a> sales decline to having one less week of NFL-watching customers in the third quarter (like Buffalo Wild Wings, the companies had an extra NFL game in the fourth quarter as a result).</p>
<p>Chains from KFC to Pizza Hut have all launched football-inspired ads, though Pizza Hut focuses on college football. Papa John's is an official partner of the NFL.</p>
<p>&quot;Watching sports is all about sharing an experience. Pizza, too, is meant to be a shared experience,&quot; Robert Thompson, the senior vice president of marketing at Papa John's, <a href="http://www.businessinsider.com/sports-are-helping-sales-at-papa-johns-2016-8">told<em> Business Insider</em> in August</a>. &quot;We noticed that connection a long time ago as we began to grow and elevate our marketing efforts both locally and nationally.&quot;</p>
<p>In the most recent Super Bowl, Americans ate roughly <a href="http://www.nationalchickencouncil.org/americans-to-eat-1-3-billion-chicken-wings-for-super-bowl-50/">1.3 billion chicken wings</a> for Super Bowl 50 and, according to <a href="http://www.wsj.com/articles/super-bowl-challenge-for-box-makers-12-5-million-pizzas-1422579110">The Wall Street Journal</a>, nearly 12.5 million pizzas.</p>
<p>But, it's not just the Super Bowl that drives wing and pizza sales. Every game day serves as an opportunity for chains to offer promotions to win over customers. If NFL viewership continues to decline, these chains will need to find a way to make up for lost sales.</p>
<p>See now: <a href="http://www.businessinsider.com/blind-pizza-taste-test-best-delivery-pizza-hut-dominos-papa-johns-2016-10">We did a blind taste test of Pizza Hut, Domino's, and Papa John's pizza — here's the verdict</a></p>Fri, 28 Oct 2016 16:41:00 GMThttp://www.slate.com/blogs/business_insider/2016/10/28/declining_nfl_viewership_could_hurt_sales_at_buffalo_wild_wings_and_papa.htmlKate Taylor2016-10-28T16:41:00ZBusinessThe NFL’s Ratings Are Down. Are Sales of Pizza and Wings Dropping, Too?235161028001footballnflKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/28/declining_nfl_viewership_could_hurt_sales_at_buffalo_wild_wings_and_papa.htmlfalsefalsefalseThe NFL’s ratings are down. Are sales of pizza and wings dropping, too?Papa John's and Buffalo Wild Wings should be worried.Photo by Mike Moore/Getty Images for Papa John'sPapa John's is an official partner of the NFL.&nbsp;Chipotle Gave Up on Its Southeast Asian Chain. Will Its New Burger Chain Boost Its Struggling Business?http://www.slate.com/blogs/business_insider/2016/10/26/chipotle_announces_opening_of_new_burger_restaurant.html
<p><em>This <a href="http://www.businessinsider.com/chipotle-burger-chain-tasty-made-opens-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider. </a></em></p>
<p>One day after <a href="http://www.businessinsider.com/chipotles-third-quarter-sales-drop-2016-10">reporting disappointing quarterly sales,</a> Chipotle announced that it was a day away from opening the&nbsp;first location of its new burger concept, Tasty Made.</p>
<p>The new eatery will open in&nbsp;Lancaster, Ohio, on Thursday, Oct. 27, Chipotle said in a statement. It&nbsp;will serve just four items: burgers, fries, shakes, and sodas.</p>
<p>&quot;We bring Chipotle’s commitment to better quality ingredients, a focused menu, fast service and customized orders to Tasty Made,&quot; Steve Ells, founder and co-CEO of Chipotle, said in a statement.</p>
<p>The location attempts to capture&nbsp;the speed of the fast-food industry, while&nbsp;following in the footsteps of other <a href="http://www.businessinsider.com/better-burger-chains-taking-over-america-2014-12?op=1/#tburger-9">better-burger concepts</a> like Shake Shack and Smashburger. Burgers will be&nbsp;grilled-to-order and never frozen, and made with beef raised without antibiotics or added hormones.</p>
<p>&quot;Each order is sent to an advanced queuing system that uses heads-up visual cues so that the team can cook and serve the food very quickly,&quot; said Ells. &quot;This is in stark contrast to typical fast food burger chains where frozen burger patties are usually cooked ahead of time and held until later, at which time they are assembled.&quot;</p>
<p>Here's what appears to be a photo of a meal at Tasty Made. The cup resembles the cups&nbsp;served at Chipotle restaurants.</p>
<p>While Chipotle has not yet revealed photos of the new location, people in Lancaster have tracked&nbsp;its building progress on social media:</p>
<p>Photos reveal a restaurant&nbsp;styled similar to an old-school fast-food joint, complete with a drive-thru.</p>
<p>&quot;Early fast food burger restaurants generally had focused menus,&quot; Chipotle founder&nbsp;Steve Ells <a href="http://www.businessinsider.com/chipotle-abandons-shophouse-2016-10">said in July.</a> &quot;We think there’s great strength in&nbsp;that original fast food model and wanted to create a restaurant built around that. Making only burgers, fries&nbsp;and shakes with really great ingredients, we think we can appeal to peoples’ timeless love of burgers, but in a&nbsp;way that is consistent with our long-term vision.&quot;</p>
<p>On Tuesday, Chipotle reported that <a href="http://www.businessinsider.com/chipotles-third-quarter-sales-drop-2016-10">it will not invest further</a> in growing and developing its&nbsp;Asian restaurant chain&nbsp;ShopHouse. Instead, the company is doubling down on Tasty Made and its build-your-own-pizza concept&nbsp;Pizzeria Locale.</p>
<p>Chipotle is looking for new concepts to boost&nbsp;sales as the chain continues to deal with the consequences of an&nbsp;E. coli outbreak that affected restaurants in 14 states one year ago. In the third quarter,&nbsp;sales at stores open at least a year dropped 21.9%, the company said Tuesday.</p>
<p>See also: <a href="http://www.businessinsider.com/chipotles-third-quarter-sales-drop-2016-10">It’s official: Chipotle’s desperate attempt to save itself failed</a></p>Wed, 26 Oct 2016 20:53:00 GMThttp://www.slate.com/blogs/business_insider/2016/10/26/chipotle_announces_opening_of_new_burger_restaurant.htmlKate Taylor2016-10-26T20:53:00ZBusinessChipotle Is Still Struggling. Is the Solution...Burgers?235161026001chipotleKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/26/chipotle_announces_opening_of_new_burger_restaurant.htmlfalsefalsefalseChipotle is still struggling. Is the solution...burgers?The restaurant will serve four items: burgers, fries, milkshakes, and soda.Photo by Andrew Renneisen/Getty ImagesThe Mexican food chain will open a burger restaurant in Lancaster, Ohio on Oct. 27.Dunkin’ Donuts Says the Election Is Hurtin’ Its Saleshttp://www.slate.com/blogs/business_insider/2016/10/21/presidential_election_is_hurting_dunkin_donuts_sales.html
<p><em>This <a href="http://www.businessinsider.com/dunkin-donuts-comments-on-election-uncertainty-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Throughout this earnings season, many companies will pin a number of shortcomings or forecasts about the <a href="http://www.businessinsider.com/donald-trump-hillary-clinton-election-ceo-blame-earnings-seasons-2016-10">presidential election</a>.</p>
<p>Dunkin' Brands was among the companies to do so on Thursday. The retailer reported profits and US same-store sales that were higher than analysts had expected.</p>
<p>However, revenue missed expectations.</p>
<p>According to the company's management, uncertainty over the US presidential election is weighing on consumers and franchisees.</p>
<p>During the earnings call, Barclays analyst Jeff Bernstein asked about a slowdown in the quick-service restaurant industry, and whether there were any reasons for this specific to the company.</p>
<p>In response, Dunkin' Brands CEO Nigel Travis cited several, including &quot;changes in gas prices, changes in food stamp regulations, and, of course, the overwhelming dampening effect of the presidential election.&quot;</p>
<p>&quot;I think we'll all be pleased when that's passed,&quot; he said.</p>
<p>It's not intuitively clear why a presidential election—even as contentious as this one—would cause people to buy fewer cups of coffee and doughnuts in the preceding months. Last year, researchers at Princeton and Chicago found that election <a href="http://www.businessinsider.com/politics-is-meaningless-to-us-consumers-2015-8">uncertainty affects consumers' outlook</a>, but not their immediate spending.</p>
<p>On Friday, the University of Michigan's preliminary <a href="http://www.businessinsider.com/umich-consumer-sentiment-index-october-14-2016-10">consumer confidence survey</a> for October showed that its expectations index fell to the lowest level since August 2014.</p>
<p>&quot;It is likely that the uncertainty surrounding the presidential election had a negative impact, especially among lower income consumers, and without that added uncertainty, the confidence measures may not have weakened,&quot; said Richard Curtin, the survey's chief economist.</p>
<p>Besides, consumer spending is still the biggest driver of economic growth and has held steady at a time when businesses haven't pulled their weight. The most recent estimate of <a href="http://www.businessinsider.com/us-gdp-second-quarter-2016-third-estimate-2016-9">personal consumption</a> in the second quarter was 4.3%, revised down by 0.1 percentage point from the highest level since Q4 2014.</p>
<p>But the election uncertainty is a little more obvious for franchisees.</p>
<p>Dunkin' Brands said Thursday that the number of new U.S. locations it opens this year will be at the low end of its previously provided range of 430-460.</p>
<p>This was how Travis responded after an analyst asked why (emphasis added):</p>
<blockquote>
What is driving franchisees towards the lower end is several factors, and I've described it, put it together as uncertainty, as
<strong>uncertainty over the general election, Senate, obviously, the House, and local elections.</strong>
</blockquote>
<blockquote>
&quot;And it was interesting earlier this year — and I have a feeling I've said this on an earlier earnings call — I was with some franchisees in one state that I won't name. And I've said to them, look, you're going to open one store this year, why don't you open two?
<strong>And their response was uncertainty, regulation, we don't know where the minimum wage is going. There was just so much uncertainty.</strong>
</blockquote>
<p>For franchisees, that wait-and-see caution reflects the divide in both candidates' <a href="http://www.businessinsider.com/donald-trump-and-hillary-clinton-us-economic-policy-2016-9">plans for the economy</a>. For example, Democratic nominee Hillary Clinton has said she wants to raise the national minimum wage to $12 an hour, while Republican nominee Donald Trump would rather let states decide.</p>
<p>They are two of the <a href="http://www.businessinsider.com/monmouth-poll-trump-clinton-popularity-2016-8?r=UK&amp;IR=T">least popular presidential candidates ever</a>. It's little wonder why everyone seems nervous.</p>
<p>See also: <a href="http://www.businessinsider.com/existing-home-sales-september-2016-2016-10">A major fallout from the housing crash is now at the lowest level since 2008</a></p>Fri, 21 Oct 2016 17:40:26 GMThttp://www.slate.com/blogs/business_insider/2016/10/21/presidential_election_is_hurting_dunkin_donuts_sales.htmlAkin Oyedele2016-10-21T17:40:26ZBusinessDunkin’ Donuts Says the Election Is Hurtin’ Its Sales &nbsp;235161021001electionfast foodAkin OyedeleBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/21/presidential_election_is_hurting_dunkin_donuts_sales.htmlfalsefalsefalseDunkin’ Donuts says the election is hurtin’ its salesOuch.Photo by Justin Sullivan/Getty ImagesDemocratic presidential candidate former Secretary of State Hillary Clinton orders food at a Dunkin' Donuts on February 9, 2016 in Nashua, New Hampshire.&nbsp;You Can Now “Endorse” a Presidential Candidate on Facebookhttp://www.slate.com/blogs/business_insider/2016/10/19/facebook_allows_users_to_endorse_a_presidential_candidate.html
<p><em>This <a href="http://www.businessinsider.com/how-to-officially-endorse-a-presidential-candidate-on-facebook-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>You may already &quot;like&quot; a 2016 presidential candidate's page&nbsp;on Facebook, but the social network is now letting you go&nbsp;a step further by outright endorsing them to your friends.</p>
<p>“Similar to how politicians, newspapers, and organizations endorse candidates for elected office, this feature allows anyone on Facebook to do the same,&quot; Facebook’s product manager for civic engagement&nbsp;Samidh Chakrabart told Business Insider in a statement on Tuesday. &quot;People who want to voice their support can visit a candidate’s Page, click on the endorsements tab, and explain their rationale for choosing that candidate.”</p>
<p>While Facebook users have&nbsp;long been able to show their support for a candidate by liking and sharing their official page, an endorsement encourages you to post a message to the News Feed explaining your support. A Facebook spokesperson said that you can choose to have your endorsement publicly visible from your profile or only to your friends. Candidates will be able to feature certain public endorsements&nbsp;on their page.</p>
<p>The spokesperson said that Facebook records endorsements only for showing&nbsp;friends&nbsp;who have endorsed a particular candidate.</p>
<p>This latest move&nbsp;is another example of what Facebook has recently described as &quot;a broader effort designed to get more people engaged in the civic process.&quot; When Facebook showed prompts in the News Feed reminding people to register to vote, <a href="http://www.businessinsider.com/facebook-news-feed-had-tremendous-impact-on-voter-registration-2016-10">multiple states reported a significant spike in registrations</a>.</p>
<p>See also: <a href="http://www.businessinsider.com/mark-zuckerberg-and-his-wife-will-invest-3-billion-into-curing-diseases-2016-9">Mark Zuckerberg and his wife Priscilla Chan will invest $3 billion into curing all diseases by the end of this century</a></p>Wed, 19 Oct 2016 17:59:58 GMThttp://www.slate.com/blogs/business_insider/2016/10/19/facebook_allows_users_to_endorse_a_presidential_candidate.htmlAlex Heath2016-10-19T17:59:58ZBusinessYou Can Now “Endorse” a Presidential Candidate on Facebook235161019001Alex HeathBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/19/facebook_allows_users_to_endorse_a_presidential_candidate.htmlfalsefalsefalseYou can now "endorse" a presidential candidate on Facebook:So you know.Photo by Sean Gallup/Getty ImagesFacebook's new endorsement option will give users a new way to &quot;like&quot; their favorite candidates.For Once, Christmas Shopping Is Not Starting Earlier This Yearhttp://www.slate.com/blogs/business_insider/2016/10/17/more_retailers_will_stay_closed_on_thanksgiving_day.html
<p><em>This <a href="http://www.businessinsider.com/thanksgiving-day-shopping-is-no-longer-a-thing-2016-10">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Retailers have officially lost the <a href="http://www.huffingtonpost.com/entry/black-friday-stores-closed-thanksgiving_us_5654de81e4b0b9651a2d21d2?utm_hp_ref=business">so-called</a> war on Thanksgiving.</p>
<p>An increasing number of <a href="http://www.businessinsider.com/closed-on-thanksgiving-day-2016-10">retailers are closing</a> on Thanksgiving Day this year in response to backlash against the trend of starting Black Friday sales a day early.</p>
<p>CBL &amp; Associates, the operator of 89 regional malls and shopping centers, announced it would close 73 of its locations on Thanksgiving Day and not open until 6 a.m. on Black Friday, <a href="http://www.cnbc.com/2016/10/12/major-mall-operator-to-close-72-shopping-centers-on-thanksgiving.html">CNBC reported</a>. Last year, the mall operator opened at 6 p.m. on Thanksgiving.</p>
<p>The Mall of America, which has opened on Thanksgiving for the past four years, <a href="http://www.businessinsider.com/mall-of-america-will-close-on-thanksgiving-2016-10">will be closed</a> on the holiday this year.</p>
<p>Costco, Home Depot, and REI have <a href="http://www.businessinsider.com/closed-on-thanksgiving-day-2016-10">already announced</a> their plans to stay closed on the holiday as well.</p>
<p>Many retailers say the decision to close is motivated by the fact that Thanksgiving is a day that's meant to be spent at home with family.</p>
<p>&quot;We think Thanksgiving is a day for families and for people we care about,&quot; Jill Renslow, the Mall of America's senior vice president of marketing, told The Associated Press of the <a href="http://www.businessinsider.com/mall-of-america-will-close-on-thanksgiving-2016-10">mall's decision to close on Thanksgiving.</a> &quot;We want to give this day back.&quot;</p>
<p>But the real reason stores are staying closed may have more to do with money.</p>
<p>Black Friday sales have fallen in recent years, decreasing 12 percent to $10.2 billion in 2015 from 2014, <a href="http://www.businessinsider.com/the-biggest-shopping-day-of-the-year-2016-10">according to ShopperTrak</a>. Looking at the entire four-day weekend, brick-and-mortar retail sales fell by 10.4 percent, to <a href="http://www.businessinsider.com/r-cyber-monday-sales-top-3-billion-as-discounts-spur-buyers-2015-12">$20.4 billion last year</a>.</p>
<p>Black Friday is even at risk of losing the title of the biggest shopping day of the year. RetailNext, a firm that tracks retail shopper traffic, <a href="http://www.businessinsider.com/the-biggest-shopping-day-of-the-year-2016-10">is predicting</a> that the biggest shopping day this year in terms of sales will be Friday, December 23—just two days before Christmas.</p>
<p>Thanksgiving Day isn't even expected to be among the 10 biggest days for shopping, according to the firm.</p>
<p>Retailers are hoping that by holding off on Black Friday sales until the day after Thanksgiving, they may be able to keep the shopping frenzy alive.</p>
<p>&quot;Black Friday historically has been such a great shopping day,&quot; CBL CEO Stephen Lebovitz <a href="http://www.cnbc.com/2016/10/12/major-mall-operator-to-close-72-shopping-centers-on-thanksgiving.html">told CNBC</a>. &quot;It's lost its luster because we've diluted it ... We want to bring back Black Friday and make it fun.&quot;</p>
<p>That luster is especially important because it makes Black Friday more than just a day of sales but also an in-store experience—something customers can avoid when shopping online.</p>
<p>Last year, Americans spent more than $3 billion on Cyber Monday, an increase of <a href="http://www.businessinsider.com/r-cyber-monday-sales-top-3-billion-as-discounts-spur-buyers-2015-12">16 percent from the prior year</a>.</p>
<p>If customers don't have much of an interest in shopping on Thanksgiving, retailers don't have much to lose by opening six to 12 hours later. In fact, because of a backlash against opening on Thanksgiving, they have the chance to avoid bad press and get a public-relations boost by respecting employees' holidays.</p>
<p>Last year, Change.org petitions targeted at <a href="https://www.change.org/p/target-don-t-open-on-thanksgiving-2">Target</a> and <a href="https://www.change.org/p/macy-s-don-t-open-for-business-on-thanksgiving-day">Macy's</a> called on the retailers to stay closed on Thanksgiving.</p>
<p>&quot;Stores are opening on Thanksgiving Day in the pursuit of ever bigger holiday profits,&quot; said the Target petition, which has <a href="https://www.change.org/p/target-don-t-open-on-thanksgiving-2">more than 100,000 signatures</a>. &quot;This comes at the expense of retail workers, who will spend the day at work instead of with their families. It's time to return Black Friday to its rightful place: Friday.&quot;</p>
<p>Walmart, Target, Macy's, and Best Buy all kicked off their Black Friday sales on Thanksgiving Day last year. They have yet to announce their plans for 2016.</p>
<p>See also: <a href="http://www.businessinsider.com/the-biggest-shopping-day-of-the-year-2016-10">Black Friday has been dethroned—there's a new biggest shopping day of the year</a></p>Mon, 17 Oct 2016 16:29:32 GMThttp://www.slate.com/blogs/business_insider/2016/10/17/more_retailers_will_stay_closed_on_thanksgiving_day.htmlKate Taylor2016-10-17T16:29:32ZBusinessFor Once, Christmas Shopping Is Not Starting Earlier This Year235161017001black fridayretailKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/17/more_retailers_will_stay_closed_on_thanksgiving_day.htmlfalsefalsefalseFor once, Christmas shopping is not starting earlier this year.We guess we have to spend Thanksgiving with our families this year.Photo by Kena Betancur/Getty ImagesCustomers stream into Macy's flagship store in Herald Square on Thanksgiving evening for early Black Friday sales in New York City.Ronald McDonald Cuts Back on Public Appearances Amid Wave of Creepy Clown Fearshttp://www.slate.com/blogs/business_insider/2016/10/12/ronald_mcdonald_cuts_back_on_public_appearances_amid_wave_of_creepy_clown.html
<p><em>This <a href="http://www.businessinsider.com/ronald-mcdonald-goes-into-hiding-amid-clown-sightings-2016-10">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>McDonald's is&nbsp;hiding its famous mascot, Ronald McDonald, in the midst of a wave of&nbsp;scary clown sightings across the US.</p>
<p>The company said Tuesday that it's &quot;mindful&quot; of the clown sightings and&nbsp;it's paring back&nbsp;Ronald McDonald's public appearances as a result.</p>
<p>&quot;McDonald's and franchisees in the local markets are mindful of the current climate around clown sightings in communities and as such are being thoughtful in respect to Ronald McDonald's participation in community events for the time being,&quot; McDonald's spokeswoman Terri Hickey told Business Insider.</p>
<p>Ronald McDonald — with his clown-like&nbsp;face paint, red wig, and yellow jumpsuit — has long been the face of McDonald's.</p>
<p>But with <a href="http://www.businessinsider.com/what-you-need-to-know-about-creepy-clowns-2016-10?r=UK&amp;IR=T">a recent rash of disturbing clown sightings across the country</a>, Ronald McDonald’s appropriateness at public events is suddenly being called into question, as the <a href="http://staging.hosted.ap.org/dynamic/stories/U/US_MCDONALDS_CLOWNS?SITE=AP&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT&amp;CTIME=2016-10-11-12-40-16">Associated Press first reported</a>.</p>
<p>The creepy sightings began&nbsp;in Greenville, South Carolina, in August, when several children told authorities that&nbsp;a group of clowns offered them money to follow them into the woods. The suspects were never found.</p>
<p>Since then, there have been hundreds of reports of&nbsp;strange&nbsp;clown sightings, some of which have turned violent.</p>
<p>A mother in San Francisco last week claimed she fought off someone dressed as a clown <a href="http://www.cbsnews.com/news/clown-sightings-hoax-real-panic-nationwide-police-taking-seriously/">who tried to grab her daughter</a>. In a separate incident last week in New York City, someone <a href="http://time.com/4521099/creepy-clown-knife-new-york-subway/">dressed as a clown&nbsp;and wielding a knife</a> threatened subway riders&nbsp;and chased a teenage boy off a&nbsp;train. </p>
<p>See also: <a href="http://www.businessinsider.com/cop-goes-undercover-as-burger-king-employee-2016-10">A police officer posed as a Burger King worker for 2 months to try to bust drug dealers — and people are furious</a></p>Wed, 12 Oct 2016 15:33:46 GMThttp://www.slate.com/blogs/business_insider/2016/10/12/ronald_mcdonald_cuts_back_on_public_appearances_amid_wave_of_creepy_clown.htmlHayley Peterson2016-10-12T15:33:46ZBusinessRonald McDonald Cuts Back on Public Appearances Amid Wave of Creepy Clown Fears235161012001mcdonaldsHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/12/ronald_mcdonald_cuts_back_on_public_appearances_amid_wave_of_creepy_clown.htmlfalsefalsefalseA slew of creepy clown fears has forced Ronald McDonald into hiding.America is not lovin' clowns right now.Photo by PAUL J. RICHARDS/AFP/Getty ImagesWant a happy meal, kids?&nbsp;Why a Lawsuit Says Naked Juice’s Labels Are Misleading—and How the Company Is Pushing Backhttp://www.slate.com/blogs/business_insider/2016/10/07/pepsico_holds_its_ground_facing_lawsuit_over_misleading_naked_juice_labels.html
<p><em>This <a href="http://www.businessinsider.com/naked-juice-wont-change-misleading-labels-2016-10">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>PepsiCo is hitting back on&nbsp;a lawsuit filed against the company's Naked Juice brand, saying claims by the consumer-advocacy group Public Interest are &quot;baseless.&quot;</p>
<p>&quot;I feel confident that consumers have the clear information on our labels and the way that we've designed them to understand and make the choices that they need to make,&quot; Naked Juice's general manager Andrea Theodore told <em>Business Insider</em>. &quot;I do not feel at this time that this lawsuit is causing us to rethink we need to do something different here.&quot;</p>
<p>The juice brand is working to send a similar message to consumers that customers can trust it despite the lawsuit—with a revamped website.</p>
<p>As of Thursday, <a href="http://www.nakedjuice.com/">Naked's website</a> no longer opens with photos of beverages. Instead, the front page is now a statement on a plain green background, with the title &quot;Everything is right there on our bottles.&quot; Scrolling down, the website shows images of the labels that the Center for Science in the Public Interest has called &quot;misleading.&quot;</p>
<p>The class-action lawsuit takes issue with&nbsp;two major parts of&nbsp;Naked Juices' marketing.</p>
<p>First, CSPI argues that while Naked Juice says it is&nbsp;a no-sugar-added beverage, it is also a high-sugar beverage. Its Pomegranate Blueberry juice, for example, accurately advertises that it is a no-sugar-<em>added</em> beverage, but even a single 15.2-ounce container (the smallest option) contains 61 grams of sugar, about 50 percent more sugar than a 12-ounce can of Pepsi.</p>
<p>Theodore says the higher sugar content of certain Naked beverages shouldn't take away from the fact that the drinks do not contain added sugar.</p>
<p>&quot;We're just trying to call out the competitive advantage that we have—that we're not adding sugar,&quot; she said. &quot;We've done a lot of research of what to communicate on our labels and what's important to consumers. And, when we did our research last, the important thing to them was that they've felt duped by some juice brands that do add sugar to their products.&quot;</p>
<p>Further, she argued that the fact Naked Juice features calorie counts on the front of bottles, next to the no-sugar-added label, makes a sugar count unnecessary. Customers, she says, have the options to choose options with fewer calories and less sugar.</p>
<p>CSPI's other major argument&nbsp;is that Naked Juice has misled customers into believing that beverages are packed with super nutrients when the dominant ingredients are &quot;cheap, nutrient-poor&quot; juices. The Kale Blazer juice, for example, is mostly <a href="http://www.businessinsider.com/orange-juice-not-healthy-2016-10">orange</a> and apple juice, despite packaging and marketing that emphasizes leafy-green imagery.</p>
<p>Theodore's stance is that the name and label represent the dominant taste, not the dominant ingredient. The Kale Blazer, she says, is designed to taste not&nbsp;like orange juice but a sweeter version of kale.</p>
<p>This isn't the first time Naked Juice has come under fire for its labeling. In 2013,&nbsp;it&nbsp;paid a $9 million settlement in a class-action lawsuit after plaintiffs accused the company of falsely labeling some of its juices as &quot;<a href="http://www.businessinsider.com/naked-juice-agrees-to-pay-settlement-2013-7">all natural</a>.&quot; The brand agreed to stop using the term on labels, though it denies that the term was misleading or false.</p>
<p>&quot;We made the decision to take the term off our labels,&quot; Theodore said, noting that the term &quot;natural&quot; is not regulated by the Food and Drug Administration. &quot;If there's any question that comes to light that we feel is really, truly misleading consumers, and they tell us that, then we'll make a change.&quot;</p>
<p>Right now, however, Naked Juice says that's simply not happening.</p>
<p>&quot;I feel very good about everything we're doing on our labels,&quot; Theodore said. &quot;Where we are right now, I have all the confidence that this lawsuit is baseless, and we're going to keep things the way they are.&quot;</p>
<p>See also: <a href="http://www.businessinsider.com/pepsico-sued-for-naked-juice-marketing-2016-10">PepsiCo is being sued over its Naked Juice marketing</a></p>Fri, 07 Oct 2016 16:49:57 GMThttp://www.slate.com/blogs/business_insider/2016/10/07/pepsico_holds_its_ground_facing_lawsuit_over_misleading_naked_juice_labels.htmlKate Taylor2016-10-07T16:49:57ZBusinessWhy a Lawsuit Says Naked Juice’s Labels Are Misleading—and How the Company Is Pushing Back235161007001lawsuitKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/07/pepsico_holds_its_ground_facing_lawsuit_over_misleading_naked_juice_labels.htmlfalsefalsefalseA lawsuit says Naked Juice’s labels are misleading. Are they?How healthy *is* that Green Machine?Gary Cameron/REUTERSRead closely.Consumers Are Ditching Their Cable Packages. These Channels Are the Biggest Losers.http://www.slate.com/blogs/business_insider/2016/10/05/the_cable_networks_that_are_the_biggest_victims_of_cord_cutting.html
<p><em>This <a href="http://www.businessinsider.com/tv-channels-hurt-by-cord-cutters-2016-10">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider. </a></em></p>
<p>Cable TV companies <a href="http://www.businessinsider.com/cord-cutters-could-cost-industry-nearly-1-billion-2016-9">could lose nearly $1 billion</a> to people cutting the cord over the next year, but some channels will be hit harder than others.</p>
<p>Earlier this year, <a href="http://www.businessinsider.com/why-inertia-tv-channels-will-die-2016-4">analysts at Barclays argued</a> that channels you watch when you're feeling lazy, &quot;inertia channels,&quot; will have a tough time competing moving forward. Others, like BTIG's Rich Greenfield, have questioned the value of ESPN.</p>
<p>But looking to the past can give us a flavor of what will happen in the future. On Wednesday, CNBC's Carl Quintanilla <a href="https://twitter.com/carlquintanilla/status/783441999848439808">tweeted</a> a chart from&nbsp;Deutsche Bank, which showed the linear TV channels with the biggest subscriber losses over the last four years.</p>
<p>In it you can see both &quot;inertia&quot; channels and &quot;sports&quot; channels have been hit hard. MTV and VH1, which are great for simply flipping to without knowing exactly what's on, saw big losses, as did ESPN and ESPN2. The Weather Channel saw the biggest dip.</p>
<p>Here is the full chart:</p>
<p>A <a href="http://www.businessinsider.com/cord-cutters-could-cost-industry-nearly-1-billion-2016-9">study last month</a> by&nbsp;management consulting firm cg42 estimated that&nbsp;800,000 cable customers will ditch their subscriptions in the next 12 months. Cg42 expects each customer to be an average loss of $1,248 annually.&nbsp;Cg42 also found that the average cord-cutter saves $104 per month by canceling.</p>
<p>As people leave cable, there are a bunch&nbsp;of companies&nbsp;stepping into the gap to offer more flexible streaming TV services tailored toward younger people. The pioneer is Sling TV, which offers a &quot;skinny bundle&quot; package of 25 channels for $20 per month. But there are other live TV alternatives from companies like Hulu, AT&amp;T, and Amazon reportedly on the way.</p>
<p>Some of these services will preserve the &quot;big bundle&quot; &nbsp;of dozens or hundreds of channels, but some won't, which will put pressure on channels that aren't deemed necessary.</p>
<p>It's almost certain that some will die during the transition.</p>
<p>See also: <a href="http://www.businessinsider.com/cord-cutters-could-cost-industry-nearly-1-billion-2016-9">Cable TV companies could lose nearly $1 billion in the next year from people ditching their subscriptions</a></p>Wed, 05 Oct 2016 17:35:39 GMThttp://www.slate.com/blogs/business_insider/2016/10/05/the_cable_networks_that_are_the_biggest_victims_of_cord_cutting.htmlNathan McAlone2016-10-05T17:35:39ZBusinessConsumers Are Ditching Their Cable Packages. These Channels Are the Biggest Losers.235161005001cabletelevision businessNathan McAloneBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/10/05/the_cable_networks_that_are_the_biggest_victims_of_cord_cutting.htmlfalsefalsefalseConsumers are ditching their cable packages. These channels are the biggest losers.Oh no, Weather Channel.Photo by Ethan Miller/Getty ImagesWeather Channel killer?The Colorado Weed Industry Has to Stop Calling Products “Candy”http://www.slate.com/blogs/business_insider/2016/09/30/colorado_imposes_stricter_regulations_on_packaging_of_marijuana_edibles.html
<p><em>This <a href="http://www.businessinsider.com/new-packaging-rules-for-colorados-recreational-marijuana-industry-2016-9">post</a> originally appeared in <a href="http://www.businessinsider.com">Business Insider.</a></em></p>
<p>Colorado is rolling out new regulations for retail marijuana packaging sold&nbsp;within the state.</p>
<p>Starting on October 1, all marijuana edibles sold at dispensaries will be marked with a new &quot;universal symbol&quot; warning buyers that the edibles contain THC, the active ingredient in marijuana, reports <a href="http://www.thecannabist.co/2016/09/29/marijuana-edibles-colorado-thc-symbol/64093/"><em>The Cannabist</em></a>.</p>
<p>Edible manufacturers will also be banned from using the word &quot;candy&quot; on their packaging. Kid-friendly shapes, like gummy bears and worms, will also be banned.</p>
<p>The new rules were created as a reaction to the increase in the number of children admitted to Colorado hospitals for consuming marijuana edibles.</p>
<p>Only eight children were admitted to the&nbsp;Children’s Hospital Colorado emergency department for marijuana consumption between 2005 and 2013, prior to recreational sales beginning in the state, Michael DiStefano, the hospital's medical director, told <a href="http://www.denverpost.com/2014/05/21/childrens-hospital-sees-surge-in-kids-accidentally-eating-marijuana/">the <em>Denver Post</em></a>.</p>
<p>In the first half of 2016, 9 children between the ages of 3 and 7 were admitted to the hospital for marijuana consumption, <a href="http://www.denverpost.com/2014/05/21/childrens-hospital-sees-surge-in-kids-accidentally-eating-marijuana/">the <em>Denver Pos</em></a><a href="http://www.denverpost.com/2014/05/21/childrens-hospital-sees-surge-in-kids-accidentally-eating-marijuana/"><em>t</em></a> reported in June.</p>
<p>The new regulations also set up equivalency standards for the amount of THC between raw marijuana in &quot;flower&quot; form and retail marijuana products, of which which dispensaries are limited by a <a href="http://extras.denverpost.com/app/bill-tracker/bills/2016a/hb_16-1261/">Colorado&nbsp;House bill</a> to sell customers up to an ounce.</p>
<p>Though the new rules were drafted after a year of discussion between industry stakeholders and state officials, some edible manufacturers have said that adapting will be costly.</p>
<p>Dan Anglin, the owner <a href="http://americannaco.com/">Americanna</a>, an edible manufacturer in Colorado, <a href="http://www.forbes.com/sites/debraborchardt/2016/06/06/edible-marijuana-company-ready-for-new-rules/#4e951c956987">told Forbes</a> that his company spent&nbsp;$100,000 and seven months preparing new candy molds and new packaging.&nbsp;Anglin, however, also said that he's a&nbsp;&quot;firm believer in regulations and safe products.&quot;</p>
<p>Jim Burack, the director of the Colorado Department of Revenue's Marijuana Enforcement Division assures the regulations aren't about making selling edibles harder for retailers.</p>
<p>&quot;The No. 1 goal here: It’s about public safety, it’s about public health, and, above all, it’s sensitive to the risk this poses to children,&quot; he told <a href="http://www.thecannabist.co/2016/09/29/marijuana-edibles-colorado-thc-symbol/64093/">The Cannabist</a>.</p>
<p>See also: <a href="http://www.businessinsider.com/cannabis-business-conference-2016-6">We went to one of the largest marijuana business conferences in the world — here's what it was like</a></p>Fri, 30 Sep 2016 20:07:06 GMThttp://www.slate.com/blogs/business_insider/2016/09/30/colorado_imposes_stricter_regulations_on_packaging_of_marijuana_edibles.htmlJeremy Berke2016-09-30T20:07:06ZBusinessThe Colorado Weed Industry Has to Stop Calling Products “Candy”235160930001marijuanaJeremy BerkeBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/30/colorado_imposes_stricter_regulations_on_packaging_of_marijuana_edibles.htmlfalsefalsefalseThe Colorado weed industry has to stop calling products "candy"Harsh.Photo by YURI CORTEZ/AFP/Getty ImagesStarting Oct. 1, marijuana edibles will be marked with a diamond symbol indicating that the edibles contain THC.BlackBerry Is Giving Up on Making Its Own Smartphoneshttp://www.slate.com/blogs/business_insider/2016/09/28/blackberry_will_no_longer_make_its_own_phones.html
<p><em>This <a href="http://www.businessinsider.com/blackberry-stops-making-own-phones-quarterly-results-q2-2017-2016-9">post</a> originally appeared in <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>It's the end of an era. BlackBerry is going to stop making its own smartphones.</p>
<p>Instead, the Canadian company will rely entirely on external companies for any future hardware projects, <a href="http://www.marketwired.com/press-release/blackberry-reports-89-year-over-year-growth-gaap-software-services-revenue-q2-fiscal-nasdaq-bbry-2162080.htm">it announced in its quarterly earnings released Wednesday</a>.</p>
<p>BlackBerry was once the undisputed king of the mobile phone world — but it was caught off-guard by the launch of the iPhone and the dawn of the smartphone era. It never recovered, and has dwindled further and further into irrelevancy ever since.</p>
<p>Its retreat from hardware projects has been on the cards for a while. BlackBerry's most recent phone, the DTEK50, <a href="http://www.androidpolice.com/2016/07/26/blackberry-announces-299-dtek50-android-phone-just-rebranded-alcatel-idol-4/">is basically just a reskinned version of the Idol 4 from Alcatel</a>.</p>
<p>And <a href="http://venturebeat.com/2016/09/28/blackberry-may-shutter-its-handset-business-today-if-ceo-keeps-promise-he-made-last-year/">CEO John Chen had said that</a> &quot;if by September, I couldn’t find a way to get [to profitability], then I need to seriously consider being a software company only.&quot;</p>
<p>Now it's actually happening.</p>
<p><strong>Here's what <a href="http://www.marketwired.com/press-release/blackberry-reports-89-year-over-year-growth-gaap-software-services-revenue-q2-fiscal-nasdaq-bbry-2162080.htm">CEO John Chen said in a statement</a>, emphasis ours:</strong></p>
<blockquote>
Our new Mobility Solutions strategy is showing signs of momentum, including our first major device software licensing agreement with a telecom joint venture in Indonesia. Under this strategy, we are focusing on software development, including security and applications.
<strong>The company plans to end all internal hardware development and will outsource that function to partners.</strong> This allows us to reduce capital requirements and enhance return on invested capital.
</blockquote>
<p>See also: <a href="http://www.businessinsider.com/regular-guy-tests-apple-wireless-airpod-headphones-iphone-2016-9">A regular guy tests out Apple’s wireless AirPod headphones — here’s what he thought</a></p>Wed, 28 Sep 2016 16:45:00 GMThttp://www.slate.com/blogs/business_insider/2016/09/28/blackberry_will_no_longer_make_its_own_phones.htmlRob Price2016-09-28T16:45:00ZBusinessBlackBerry Is Giving Up on Making Its Own Smartphones235160928002blackberryRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/28/blackberry_will_no_longer_make_its_own_phones.htmlfalsefalsefalseBlackBerry is giving up on making its own smartphonesIt's the end of an era.Sean GallupThe company will now focus more on software development.Stanford Business School Will Give a Free Ride to Three Students Who Agree to Work in the Midwesthttp://www.slate.com/blogs/business_insider/2016/09/28/students_can_earn_a_free_mba_from_stanford_if_they_agree_to_work_in_the.html
<p><em>This <a href="http://www.businessinsider.com/stanford-graduate-school-business-midwest-2016-9">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider. </a></em></p>
<p>A new fellowship at the Stanford Graduate School of Business, one of the<a href="http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-business-schools/mba-rankings"> top ranked business schools</a>, covers tuition and fees for MBA students. But the program comes with a catch: Students must be willing to take a job in the Midwest.</p>
<p>Students often select Stanford because they know they'll get a great education and make contacts in Silicon Valley, where many of them presumably want to work after graduation. But the school has plans to funnel students to more &quot;underserved regions,&quot; where the economy could benefit from an infusion of talent.</p>
<p>&quot;When we look at our country, and we think about different places where there's still a lot of room for growth and development, the Midwest was a big part of that,&quot; Simone Hill, an assistant director for MBA admissions at Stanford, <a href="http://www.bloomberg.com/news/articles/2016-09-23/here-s-160-000-toward-your-stanford-mba-and-here-s-the-catch">told Bloomberg.</a></p>
<p>In its inaugural year, the Stanford USA MBA Fellowship will pay three students approximately $160,000 over two years to attend the university. Within two years of graduating, recipients are required to find work in the Midwest where they will &quot;contribute to the region's economic development&quot; for at least two years, according to the <a href="https://www.gsb.stanford.edu/programs/mba/financial-aid/us-citizens-permanent-residents/stanford-usa-mba-fellowship">program website</a>.</p>
<p>To qualify, applicants must demonstrate financial need and have strong ties to the Midwest, which may include current or prior residency or graduation from a high school in the region.</p>
<p>An <a href="http://www.gsb.stanford.edu/programs/mba/financial-aid/cost-summary">online summary of costs</a> associated with attending Stanford Graduate School of Business puts tuition and fees over $111,000 per academic year for individuals living off campus. So the fellowship's financial award might not cut it for low-income students.</p>
<p>The Midwest—which includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin, according to the fellowship's rules of eligibility—might not seem like the hotbed of innovation that Silicon Valley is. But living in the <a href="http://siliconprairienews.com/">&quot;Silicon Prairie&quot;</a> has plenty of benefits, ranging from competitive salaries to low cost of living.</p>
<p>And the&nbsp;tech boom echoes across the country. Michigan and Illinois were among the five states that added the greatest percentage of tech jobs in the first six months of the year, <a href="http://insights.dice.com/2016/08/30/dice-report-fastest-growing-states-for-tech-jobs/">according to an analysis</a> of U.S. Bureau of Labor Statistics by&nbsp;research firm Dice.</p>
<p>The Stanford program aims to find &quot;people who are interested in bringing everything that they learned back to their region to develop it,&quot; Hill tells Bloomberg.</p>
<p>After this year, Stanford hopes to expand the fellowship by accepting up to eight students and adding other regions. It's considering the Southwest for the 2017-2018 school year.</p>
<p>See also: <a href="http://www.businessinsider.com/best-apps-for-college-students-2016-9">9 apps every college student should be using</a></p>Wed, 28 Sep 2016 15:07:48 GMThttp://www.slate.com/blogs/business_insider/2016/09/28/students_can_earn_a_free_mba_from_stanford_if_they_agree_to_work_in_the.htmlMelia Robinson2016-09-28T15:07:48ZBusinessStanford Business School Will Give a Free Ride to Three Students Who Agree to Work in the Midwest235160928001stanfordmidwestMelia RobinsonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/28/students_can_earn_a_free_mba_from_stanford_if_they_agree_to_work_in_the.htmlfalsefalsefalseStanford Biz School will give free rides to 3 students who agree to work in the MidwestWant a free MBA from Stanford? There's a small catch.Photo by Justin Sullivan/Getty ImagesStanford University's Graduate School of Business ranked second among MBA programs in this year's U.S. News rankings.&nbsp;Chipotle Gave Away Tons of Free Food to Fix Its Battered Image. It Didn’t Work.http://www.slate.com/blogs/business_insider/2016/09/23/chipotle_s_rewards_campaign_didn_t_fix_its_battered_image.html
<p><em>This <a href="http://www.businessinsider.com/chiptopia-failed-to-win-over-customers-2016-9">article</a> originally appeared on Business Insider.</em></p>
<p>As Chipotle's summer rewards program comes to a close, the results are looking less than positive.</p>
<p><a href="http://www.businessinsider.com/chipotle-is-giving-away-free-burritos-2016-6">In July,</a> the chain launched Chiptopia, a three-month promotion tied to the number of times customers visit Chipotle.</p>
<p>The program had some of the best rewards in the restaurant business, with tons of opportunities for customers to get free food.</p>
<p><a href="http://www.businessinsider.com/chipotle-rewards-program-2016-7">By late July, </a>the program had more than 3.6 million participants and accounted for 30 percent of all transactions.</p>
<p>Today, Chipotle says more than&nbsp;3.1 million&nbsp;customers have registered and used their Chiptopia cards. According to the company,&nbsp;1.2 million users signing up in August&nbsp;and&nbsp;85,000 participants are on track to earn the catering reward, meaning they visited at least 11 times&nbsp;each month&nbsp;for the last three months.</p>
<p>More than 3 million participants means spending&nbsp;a lot of money on free burritos, especially after&nbsp;the company gave away roughly <a href="http://www.businessinsider.com/how-much-is-chipotle-spending-on-free-burritos-2016-3">$70 million</a> in free-food coupons from&nbsp;February to May. Free food has been key to Chipotle's game plan to win back customers after&nbsp;E. coli outbreaks&nbsp;helped drive away business, with the&nbsp;chain's same-store sales dropping 30 percent in the first quarter of 2016.</p>
<p>However, as September ends and the program comes to a close, it seems it has failed to address one of Chipotle's biggest problems: customer perception.</p>
<p>The chain has hit a wall in terms of brand perception, according to YouGov BrandIndex data. On July 1, the day Chiptopia launched, consumer perception of the brand's quality was 9.4, on a scale of -100 to 100. On September 20, that rating had dropped to 6.8, after almost three months of staying roughly the same.</p>
<p>Earlier this week, Chipotle marketing director Mark Crumpacker said in an interview that the chain was <a href="http://www.businessinsider.com/chipotle-is-losing-customers-to-mcdonalds-2016-9">losing customers </a>to fast-food giant McDonald's. On Wednesday, the chain launched a new campaign attempting to convince customers the food is safe to eat, after the E. coli outbreaks that drove away customers.</p>
<p>&quot;Chiptopia was not a perception tool, though other programs have been having a positive impact on consumer perceptions,&quot; Chipotle's communications director, Chris Arnold, said in an email to Business Insider, noting the ad &quot;<a href="https://chipotle.com/a-love-story">A Love Story</a>&quot; has helped boost customer perception.</p>
<p>&quot;The program we launched yesterday, to update people on some of the important food-safety changes we have made, serves yet a different purpose,&quot; Arnold continued. &quot;We promised our customers that we would establish Chipotle as an industry leader in food safety, so we wanted to be transparent about many of the food-safety advancements we have put in place.&quot;</p>
<p>Still, a rewards program seems like it should earn some goodwill from customers, especially one with rewards as good as Chipotle's. Chiptopia is, by all measures, a great deal—one of the best in the restaurant industry. If you buy 12 burritos over the three months (four a&nbsp;month), you get four free burritos. &nbsp;That means it has a return rate of roughly 33 percent for customers.</p>
<p>That's an incredibly high return rate. For example, look at&nbsp;Starbucks, which has an <a href="http://www.businessinsider.com/starbucks-rewards-program-is-on-fire-2016-7">incredibly successful rewards program.</a> Starbucks Rewards members earn a free food or drink item&nbsp;after spending $62.50. A semi-pricey Starbucks drinks is $5, meaning you're generously receiving an 8 percent return.</p>
<p>Chipotle's rewards program seems to be facing two big problems when it comes to driving customer perception: It is too confusing to the average customer and not sustainable for Chipotle in the long term.</p>
<p>From the start, Chiptopia has been aimed at Chipotle loyalists—in part because the program is too confusing for any other customers. The three-tiered system takes quite a bit of studying to sort out, with each level having slightly different rewards&nbsp;and a long list of qualifiers.</p>
<p>In August, Morgan Stanley wrote in a research note&nbsp;that the program&nbsp;had helped convince loyal Chipotle customers&nbsp;to resume their prior frequency, but had not impacted the more casual customers that make up 75% of the chain's customers. While the most loyal quarter of the chain's customer base make up 60 percent to 70 percent of visits, if Chipotle wants to reach its former level of customer perception and sales, it needs to recapture the average consumer as well.</p>
<p>Which brings us to the second problem: Chiptopia wasn't designed to perform in the long term. Just as Chipotle can't afford to keep giving out free burritos forever, a rewards program with a 33 percent return rate would end up being extraordinarily expensive for the company.</p>
<p>That could be a problem for Chipotle.</p>
<p>&quot;The program's end in September could alienate some customers just as they are getting accustomed to the rewards,&quot; BTIG analyst Peter Saleh wrote in a <a href="http://www.businessinsider.com/chipotle-rewards-program-2016-7">July research note.</a></p>
<p>Chipotle said two months ago that it was already working on a permanent program to prevent backlash once Chiptopia ends. The new program has not yet been announced by Chipotle, though the company is insistent that it is on the right track to make a comeback.</p>
<p>&quot;Recovery is happening,&quot; says Arnold. &quot;Since the investigation ended about seven months ago, we have recovered about 40 percent of the sales we lost from the low point in January (as of our most recent reporting period at the end of the second quarter), and introduced programs to help stimulate frequency and restore trust. These things are also moving in the right direction. But none of this happens overnight.&quot;</p>
<p>A new rewards program is likely another program with the goal of&nbsp;moving things in that direction in the near future. Hopefully&nbsp;for Chipotle, an updated&nbsp;program will be less confusing—even if rewards are less bountiful.</p>Fri, 23 Sep 2016 15:00:00 GMThttp://www.slate.com/blogs/business_insider/2016/09/23/chipotle_s_rewards_campaign_didn_t_fix_its_battered_image.htmlKate Taylor2016-09-23T15:00:00ZBusinessChipotle Gave Away Tons of Free Food to Fix Its Battered Image. It Didn’t Work.235160923001Kate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/23/chipotle_s_rewards_campaign_didn_t_fix_its_battered_image.htmlfalsefalsefalseChipotle gave away tons of free food to fix its battered image. It didn't work.No amount of free burritos will convince consumers that Chipotle is safe again.Photo by Joe Raedle/Getty ImagesNot confidence-restoring.The Demise of Sports Authority Is Great News for Dick’s Sporting Goodshttp://www.slate.com/blogs/business_insider/2016/09/21/as_sporting_goods_stores_close_dick_s_sporting_goods_gets_a_business_boost.html
<p><em>This <a href="http://www.businessinsider.com/dicks-sporting-goods-shares-surging">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Dick's Sporting Goods is running out of competitors—and that's great news for the retail chain.</p>
<p>Many of the brand's rivals have fallen on hard times, says <a href="http://money.cnn.com/2016/09/19/investing/dicks-sporting-goods-competitors-bankrupt-stock/">Paul R. La Monica at CNN Money</a>.</p>
<p>Sports Authority and Sport Chalet have gone out of business amid an overall downturn in the athletic equipment industry, and Golfsmith recently filed for bankruptcy.</p>
<p>There are myriad reasons for the downturn in the athletic equipment industry. Cash-strapped millennials aren't interested <a href="http://www.businessinsider.com/millennials-are-hurting-the-golf-industry-2016-7">in buying golf equipment</a> and would prefer to spend their limited funds on electronics instead. And when people do buy sports equipment, they increasingly prefer to do so online.</p>
<p>Still, being the last man standing is working out for Dick's Sporting Goods: Shares are up 36 percent since May, when Sports Authority announced it would shut down.</p>
<p>&quot;It's pretty evident that the broader industry is consolidating,&quot; UBS analysts wrote in a recent note&nbsp;to clients. &quot;This is likely to put the industry's leading retailer (Dick's) in a much stronger position over the long-run.&quot;</p>
<p>According to the analysts, 70 percent of all Sports Authority locations and 79 percent of all Sport Chalet locations are within 20 minutes of a Dick's Sporting Goods. That means that displaced customers likely will go to Dick's in the future, boosting business.</p>
<p>Dick's is also benefitting from the growing athletic apparel market, especially in sneakers.</p>
<p>U.S. athletic-footwear growth has accelerated by nearly 10 percent in the past two months, according to analysts at Morgan Stanley.</p>
<p>Adidas is leading the category after reviving its classic sneakers like Stan Smiths and Superstars, analysts at Jefferies write. Once Adidas attracts customers to the shoe section, those customers often make impulsive purchases from other brands as well.</p>
<p>Jeffries analysts also say that basketball shoes are seeing a resurgence after the Cleveland Cavaliers' NBA Finals win—another trend that would benefit Dick's.</p>
<p>But UBS analysts warn that the overall weakness in the apparel market that is hurting department stores like Macy's, Nordstrom, and Sears could also spell trouble for Dick's. The company could also be pressured to raise wages for workers, which could hurt profits.</p>
<p>&quot;The [retail] space won't be immune to challenges in 2016,&quot; the analysts wrote. &quot;Real wage growth will be a double-edged sword, likely spurring further gains in spending, but also pressuring expenses for those exposed to low skilled workers.&quot;</p>
<p>See also: <a href="http://www.businessinsider.com/people-love-llbean-winter-boots-hiking-sold-out-2016-8">Here's why people love these L.L.Bean boots that sell out every winter</a></p>Wed, 21 Sep 2016 21:07:43 GMThttp://www.slate.com/blogs/business_insider/2016/09/21/as_sporting_goods_stores_close_dick_s_sporting_goods_gets_a_business_boost.htmlAshley Lutz2016-09-21T21:07:43ZBusinessThe Demise of Sports Authority Is Great News for Dick’s Sporting Goods235160921001sportsretailAshley LutzBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/21/as_sporting_goods_stores_close_dick_s_sporting_goods_gets_a_business_boost.htmlfalsefalsefalseThe demise of Sports Authority is great news for Dick's Sporting Goods.Last apparel store standing.Photo by Scott Olson/Getty ImagesWith Sports Authority, Sport Chalet, and Golfsmith calling it quits, Dick's is the last major sporting goods store standing.Kmart Is Closing 64 Stores and Laying Off Thousandshttp://www.slate.com/blogs/business_insider/2016/09/19/kmart_closes_64_stores_leaving_thousands_of_employees_jobless.html
<p><em>This <a href="http://www.businessinsider.com/kmart-is-closing-64-stores-full-list-2016-9">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Kmart is closing 64 stores across 28 states.</p>
<p>Sears Holdings, which owns Sears and Kmart, informed Kmart employees of the closures on Friday, according to several <a href="http://www.thetimesnews.com/news/20160916/burlington-kmart-to-close-in-december">local</a>&nbsp;<a href="http://www.craigdailypress.com/news/2016/sep/17/craig-briefs-kmart-craig-set-close-dec-11/">news</a>&nbsp;<a href="http://www.dnj.com/story/money/business/2016/09/19/kmart-closing-stores-tennessee/90685348/">reports</a> and multiple employees who spoke with <em>Business Insider</em>.</p>
<p>The stores that are closing will begin liquidation sales on September 22 and close by mid-December, employees said.</p>
<p>Sears did not respond to<em> Business Insider</em>'s request for comment.</p>
<p>Separately on Friday, Seritage Growth Properties, a real-estate investment trust that owns 235 Sears and Kmart stores, revealed in a filing that Sears had decided to terminate leases on 17 stores, meaning it would close those stores.</p>
<p>According to RBC Capital Markets analysts, all 17 closures are Kmart stores and they will close by January.</p>
<p>The new wave of closures <a href="http://www.businessinsider.com/list-of-sears-and-kmart-stores-closing-2016-8">follows Sears' decision to shut down nearly 80 stores</a>—most of which were Kmart stores—in July. Moody's analysts <a href="http://www.businessinsider.com/moodys-report-sears-and-kmart-2016-9">warned last week that Kmart doesn't have enough cash or access to cash to stay in business</a>. Kmart has about 870 stores today, down from about 1,300 in 2012.</p>
<p>Here's a full list of stores that will close in December, according to employees:</p>
<ul>
<li>Kmart #3044: Lawton, OK</li>
<li>Kmart #3180: Merrillville, IN</li>
<li>Kmart #3241: Springfield, IL</li>
<li>Kmart #3320: Houma, LA</li>
<li>Kmart #3328: New Lenox, IL</li>
<li>Kmart #3355: Panama City, FL</li>
<li>Kmart #3359: Gardendale, AL</li>
<li>Kmart #3521: Binghamton, NY</li>
<li>Kmart #3556: Elkhart, IN</li>
<li>Kmart #3594: Chicago, IL</li>
<li>Kmart #3644: Nashville, TN</li>
<li>Kmart #3695: Sierra Vista, AZ</li>
<li>Kmart #3706: Wytheville, VA</li>
<li>Kmart #3754: Martinsville, VA</li>
<li>Kmart #3814: Kearney, NE</li>
<li>Kmart #4066: Jackson, MI</li>
<li>Kmart #4095: Joliet, IL</li>
<li>Kmart #4135: Augusta, GA</li>
<li>Kmart #4162: Salt Lake City, UT</li>
<li>Kmart #4175: Canton, OH</li>
<li>Kmart #4176: Cheektowaga, NY</li>
<li>Kmart #4439: Yakima, WA</li>
<li>Kmart #4700: Fenton, MI</li>
<li>Kmart #4717: Oak Ridge, TN</li>
<li>Kmart #4739: Clarksville, TN</li>
<li>Kmart #4772: Burnham, PA</li>
<li>Kmart #4781: Macomb, IL</li>
<li>Kmart #4837: Riverton, WY</li>
<li>Kmart #4845: Manistee, MI</li>
<li>Kmart #4851: Byron Center, MI</li>
<li>Kmart #4910: Mentor, OH</li>
<li>Kmart #4917: Thornton, CO</li>
<li>Kmart #4961: Burlington, NC</li>
<li>Kmart #4970: Memphis, TN</li>
<li>Kmart #4972: Lubbock, TX</li>
<li>Kmart #4984: Tinley Park, IL</li>
<li>Kmart #7024: Scottsbluff, NE</li>
<li>Kmart #7061: New Iberia, LA</li>
<li>Kmart #7077: Harlingen, TX</li>
<li>Kmart #7174: Pikeville, KY</li>
<li>Kmart #7205: Grand Rapids, MI</li>
<li>Kmart #7216: Moorhead, MN</li>
<li>Kmart #7306: Sioux Falls, SD</li>
<li>Kmart #7356: Jonesboro, AR</li>
<li>Kmart #7412: West Valley City, UT</li>
<li>Kmart #7478: Waipahu, HI</li>
<li>Kmart #7551: Indio, CA</li>
<li>Kmart #7560: Craig, CO</li>
<li>Kmart #7587: Fontana, CA</li>
<li>Kmart #7625: Los Angeles, CA</li>
<li>Kmart #7642: Natchez, MS</li>
<li>Kmart #7718: Hixson, TN</li>
<li>Kmart #7733: Alpena, MI</li>
<li>Kmart #7755: Deming, NM</li>
<li>Kmart #7775: Lafayette, IN</li>
<li>Kmart #7795: Abilene, TX</li>
<li>Kmart #9129: Mount Airy, NC</li>
<li>Kmart #9146: Great Barrington, MA</li>
<li>Kmart #9397: West Saint Paul, MN</li>
<li>Kmart #9571: Cullman, AL</li>
<li>Kmart #9586: Sault Saint Marie, MI</li>
<li>Kmart #9623: Springdale, AR</li>
<li>Kmart #9728: Smyrna, TN</li>
<li>Kmart #9751: Cody, WY</li>
</ul>
<p>See also: <a href="http://www.businessinsider.com/moodys-report-sears-and-kmart-2016-9">Moody's: Sears' and Kmart's shutdown is imminent</a></p>Mon, 19 Sep 2016 20:43:21 GMThttp://www.slate.com/blogs/business_insider/2016/09/19/kmart_closes_64_stores_leaving_thousands_of_employees_jobless.htmlHayley Peterson2016-09-19T20:43:21ZBusinessKmart Is Closing 64 Stores and Laying Off Thousands235160919001retailHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/19/kmart_closes_64_stores_leaving_thousands_of_employees_jobless.htmlfalsefalsefalseKmart is closing 64 stores and laying off thousandsSee if your local Kmart is soon to be no longer.Tasos KatopodisBreweries and Alcohol Distributors Are Getting Nervous About Weed Legalization in the Northeasthttp://www.slate.com/blogs/business_insider/2016/09/16/alcohol_distributors_in_massachusetts_fight_against_marijuana_legalization.html
<p><em>This <a href="http://www.businessinsider.com/marijuana-legalization-massachusetts-from-alcohol-2016-9">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Big players in the alcohol business are pushing back on a major marijuana legalization initiative.</p>
<p>Massachusetts is one&nbsp;of five states with a ballot initiative this year that could legalize recreational use of marijuana, and the alcohol industry is leading the charge to stop the&nbsp;initiative. In Massachusetts,&nbsp;a political action committee that represents 16 of the state's beer distributors is <a href="http://www.ocpf.us/Reports/DisplayReport?menuHidden=true&amp;id=584060#schedule-a">among the top three donors</a> to an anti-legalization group, <a href="https://theintercept.com/2016/09/14/beer-pot-ballot/">The Intercept's Lee Fang discovered</a>.</p>
<p>Boston Beer Company (the folks behind Sam Adams) are also worried about the potential for Massachusetts cannabis legalization, Fang pointed out. &quot;Certain states are considering or have passed laws and regulations that allow the sale and distribution of marijuana. It is possible that legal marijuana usage could adversely impact the demand for the Company’s products,&quot; <a href="http://www.bostonbeer.com/mobile.view?c=69432&amp;v=202&amp;d=3&amp;id=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEwNzU1NzY1JkRTRVE9MSZTRVE9MjAmU1FERVNDPVNFQ1RJT05fUEFHRSZleHA9JnN1YnNpZD01Nw%3D%3D">the company noted in an SEC filing back in February</a>.</p>
<p>There's a crucial difference between the former group and the latter—beer <em>distributors</em> are the middle-men of the beer world, acting as the go-between for brewers and retail.&nbsp;Both distributors and brewers (in the case of Boston Beer) are worried about a negative sales impact, though it's surprising to see the distribution side of the beer industry negatively react.</p>
<p>In other states considering legalization this November, such as&nbsp;California, beer and alcohol distributors <a href="http://www.politico.com/magazine/story/2016/08/marijuana-legalization-big-business-alcohol-214198">are part of the conversation about marijuana legalization</a>.</p>
<p>So the logic goes:&nbsp;After legalization, state government will regulate the marijuana industry similarly to the beer and alcohol industry, with distributors acting as middle-men between brewers/wholesalers and customers. After all, they've already got the trucks, routes, employees, and established systems.</p>
<p>Even more bizarrely, in Colorado, beer and alcohol sales are <em>up</em> alongside marijuana legalization. &quot;Tax records show that alcohol sales have continued to grow in Colorado despite the rapid rise of recreational marijuana,&quot; <a href="http://www.theguardian.com/politics/2015/aug/31/alcohol-industry-sales-marijuana-colorado">The Guardian wrote in August 2015</a>, roughly one-and-a-half years after it became legal in Colorado. &quot;Even as tax revenues from marijuana nearly tripled between June 2014 through May 2015, alcohol sales continued to steadily increase as well, with alcohol excise taxes rising 2.1%, the same increase as the year prior.&quot;</p>
<p>Though the worries from alcohol and beer groups in Massachusetts are inspiring financial pushback, it's not clear that the&nbsp;fears driving that pushback are based in&nbsp;logic.</p>
<p>It's also not clear if the recreational marijuana initiative&nbsp;will even pass in Massachusetts. The latest poll, care of conservative political action committee&nbsp;Gravis Marketing for Jobs First and <a href="http://www.bostonglobe.com/news/politics/2016/07/19/poll-shows-half-state-voters-oppose-marijuana-ballot-proposal/ueIoquM3ejnhnjhnzYwpkM/story.html?event=event25">the <em>Boston Globe</em></a>, has 51 percent of respondents opposed, 41 percent in favor, and 9 percent undecided.</p>Fri, 16 Sep 2016 21:06:31 GMThttp://www.slate.com/blogs/business_insider/2016/09/16/alcohol_distributors_in_massachusetts_fight_against_marijuana_legalization.htmlBen Gilbert2016-09-16T21:06:31ZBusinessBreweries and Alcohol Distributors Are Getting Nervous About Weed Legalization in the Northeast235160916001marijuana legalizationmarijuanaalcoholBen GilbertBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/16/alcohol_distributors_in_massachusetts_fight_against_marijuana_legalization.htmlfalsefalsefalseThe alcohol industry is getting nervous about weed legalization in the NortheastSam Adams is getting antsy about legal pot.Sean GallupWith recreational marijuana legalized, who would ever need to buy a beer again?Samsung’s Exploding Note 7 Is Officially Getting a Recallhttp://www.slate.com/blogs/business_insider/2016/09/15/samsung_s_exploding_note_7_just_got_a_government_recall.html
<p><em>This <a href="http://www.businessinsider.com/samsung-galaxy-note-7-recall-2016-9">post</a>&nbsp;originally appeared on Business Insider.</em></p>
<p>The US&nbsp;Consumer Product Safety Commission has <a href="http://www.cpsc.gov/en/Recalls/2016/Samsung-Recalls-Galaxy-Note7-Smartphones/">officially recalled Samsung's Galaxy Note 7</a>.</p>
<p>Here's the CPSC's statement:</p>
<blockquote>
This recall involves the Samsung Galaxy Note 7 smartphone sold before September 15, 2016. The recalled devices have a 5.7 inch screen and were sold in the following colors: black onyx, blue coral, gold platinum and silver titanium with a matching stylus. Samsung is printed on the top front of the phone and Galaxy Note 7 is printed on the back of the phone.
</blockquote>
<p>The recall comes after Samsung said it found several cases where Note 7 phones exploded.</p>
<p>The&nbsp;CPSC listing for the recall says about 1 million Note 7 units are affected by the recall. Customers can get a replacement phone (a Samsung Galaxy S7, Galaxy S7 Edge, or a new Note 7 without the battery problem) or a refund. They can go to Samsung's website and input the IMEI number on the back of their phone to see if their device is affected. In the meantime, the CPSC suggested that users&nbsp;power down their&nbsp;Note 7.</p>
<p>In a statement to <em>Business Insider</em>, Samsung said replacement Note 7 phones will be in retail locations by Sept. 21.</p>
<p>The CPSC says there are 92 reported cases of batteries overheating in the US. That includes 26 reports of burns and 55 reports of property damage.&nbsp;&nbsp;A CPSC spokesperson told reporters on a conference call that the Note 7 represents &quot;a very serious fire hazard.&quot;</p>
<p>Samsung halted sales of the device about two weeks ago following reports that some batteries were exploding inside the device. Customers were instructed to contact their retailer to exchange the device for another Samsung phone or a refund. Airlines and public transportation organizations have been telling riders not to power on their Note 7s while in transit.</p>
<p>However, there have been several issues with the returns, as documented in reports by <a href="http://www.wsj.com/articles/samsungs-management-of-recall-wounds-companys-image-1473928872">the <em>Wall Street Journal</em></a> and <a href="http://gizmodo.com/samsungs-galaxy-note-7-recall-is-a-nightmare-so-far-1786448890"><em>Gizmodo</em></a>. Users report that Samsung's retail and carrier partners were not prepared to exchange Galaxy Note 7s, which frustrated&nbsp;many.</p>
<p>It's particularly bad timing for Samsung. The recall comes a day before Apple's new iPhone 7 goes on sale. The Note 7 received universally positive reviews ahead of the iPhone 7 launch.</p>
<p>Samsung has lost at least $20 billion in market cap since reports of Note 7 problems began two over two weeks ago.</p>Thu, 15 Sep 2016 21:50:29 GMThttp://www.slate.com/blogs/business_insider/2016/09/15/samsung_s_exploding_note_7_just_got_a_government_recall.htmlSteve Kovach2016-09-15T21:50:29ZBusinessSamsung’s Exploding Note 7 Is Officially Getting a Recall235160915001Steve KovachBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/15/samsung_s_exploding_note_7_just_got_a_government_recall.htmlfalsefalsefalseSamsung's exploding Note 7 is officially getting a recallThere it goes.Photo by Drew Angerer/Getty ImagesEek.Why Is Apple Jacking Up the Prices of Its Devices in the U.K.?http://www.slate.com/blogs/business_insider/2016/09/09/why_are_apple_prices_in_the_u_k_going_up.html
<p><em>This <a href="http://www.businessinsider.com/apple-increases-uk-prices-for-iphone-7-ipad-pro-air-after-brexit-weak-pound-2016-9?utm_content=10ThingsSAI&amp;utm_medium=email&amp;utm_source=Sailthru&amp;nr_email_referer=1&amp;utm_campaign=Post%20Blast%20%28sai%29:%2010%20things%20in%20tech%20you%20need%20to%20know%20today&amp;utm_term=10%20Things%20In%20Tech%20You%20Need%20To%20Know%20-%20Engaged%2C%20Active%2C%20Passive%2C%20Disengaged?r=UK&amp;IR=T">post</a> originally appeared on&nbsp;<a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Apple has used the cover of the iPhone 7 launch to bump up the prices of many of its products in Britain—apparently in response to a weak pound following Britain's vote to leave the EU.</p>
<p>The Cupertino technology giant has increased the U.K. prices of certain models of iPhone, iPad Pro, and iPad Air—while retaining the older, smaller pricetag in the U.S.</p>
<p>On Wednesday, <a href="http://uk.businessinsider.com/apple-iphone-7-photos-specs-features-2016-9">Apple announced the iPhone 7, as well as the second Apple Watch, in its biggest launch day of the year</a>. At the same time, it has increased the minimum internal storage in many&nbsp;of its devices, up from 16GB to 32GB.</p>
<p>On Apple's American website, this hasn't affected prices. But U.K. customers could be in for a shock if they were holding off on purchasing goods in the hope of a reduction.</p>
<p>The iPhone 7 is the most obvious offender. The cheapest version of the 6s retailed for &pound;539; its successor, the 32GB iPhone 7, goes for &pound;599 ($649 in the U.S., then and now). Meanwhile, the highest-end model, with 256GB of storage, is &pound;919—&pound;100 more than its predecessor.</p>
<p>Take the iPad Air 2, Apple's thin tablet computer. That used to retail for &pound;349 with 16GB of storage. Now, the lowest option is 32GB—and it'll cost you &pound;379. Cellular options, meanwhile, used to start at &pound;449; it's now &pound;499. But in the U.S., <a href="https://web.archive.org/web/20160902224159/http://www.apple.com/shop/buy-ipad/ipad-air-2">the price hasn't changed from $399 for the cheapest storage option, and $529 for the cellular option</a>.</p>
<p>The 12.9-inch iPad Pro, meanwhile, already had a minimum storage option of 32GB. That now starts from &pound;729, up from &pound;679. (In the U.S.? $799.)</p>
<p>The Apple Pencil, a stylus accessory for the iPad, is now &pound;99 (<a href="https://web.archive.org/web/20151116045245/http://www.apple.com/uk/shop/product/MK0C2ZM/A/apple-pencil-for-ipad-pro">previously &pound;79</a>).</p>
<p>What's behind this U.K.-only price increase? An Apple spokesperson told <em>Business Insider</em> that &quot;Apple suggests product prices internationally on the basis of several factors, including currency exchange rates, local import laws, business practices, taxes,&nbsp;and the cost of doing business. These factors vary from region to region and over time, such that international prices are not always comparable to U.S. suggested retail prices.”</p>
<p>This mention of currency exchange rates suggests that it could be down to the&nbsp;fall in the value of the pound in the aftermath of the Brexit vote. Apple does its accounting in dollars, so may have been forced to put up its prices to compensate for this.</p>
<p>The iPhone 7 is a largely incremental upgrade on its predecessor, the iPhone 6s. Major changes include a better camera, water resistance, and the controversial removal of the headphone jack. Instead, customers are forced to use wireless headphones or plug in their headphones to the Lightning port via the adaptor—something that will prevent them from charging their device and listening to music at the same time.</p>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/apple-wireless-headphones-no-bluetooth-2016-9">Apple's wireless headphones will use something better than Bluetooth</a></p>Fri, 09 Sep 2016 15:30:27 GMThttp://www.slate.com/blogs/business_insider/2016/09/09/why_are_apple_prices_in_the_u_k_going_up.htmlRob Price2016-09-09T15:30:27ZBusinessWhy Is Apple Jacking Up the Prices of Its Devices in the U.K.?235160909001applebrexitRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/09/why_are_apple_prices_in_the_u_k_going_up.htmlfalsefalsefalseWhy is Apple jacking up the prices of its devices in the U.K.Some iPhones are now 100 pounds more expensive than the last generation.Photo by Stephen Lam/Getty ImagesApple CEO Tim Cook announces the new Apple iPhone 7 during a launch event on September 7, 2016 in San Francisco, California.Why Coca-Cola Is Getting Into the Coffee Gamehttp://www.slate.com/blogs/business_insider/2016/09/03/coca_cola_is_entering_the_coffee_business.html
<p><em>This <a href="http://www.businessinsider.com/coca-cola-invests-in-coffee-not-soda-2016-9">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Coca-Cola is investing in coffee.</p>
<p>On Thursday, Coca-Cola’s iced tea brand Gold Peak announced it is entering the ready-to-drink coffee business. The brand, which is currently best known for its $1 billion bottled iced tea business, will launch bottled coffees and tea lattes in the first quarter of 2017.</p>
<p>It’s a move that reveals Coca-Cola’s plans to enter the <a href="http://www.cbs8.com/story/32466415/north-american-ready-to-drink-coffee-market-growth-trends-forecasts-to-2020-research-and-markets">$2 billion</a> ready-to-drink coffee industry—a move that might be key to the company’s future.</p>
<p>In July, Coca-Cola reported that its sparkling-beverage sales by volume <a href="http://www.businessinsider.com/coca-cola-soda-sales-down-by-volume-2016-7">dropped 1 percent in the second quarter,</a> part of a larger downward trend in soda consumption. In 2015, the total volume of soda consumed in the U.S. dropped 1.2 percent, compared to a drop of 0.9 percent in 2014, <a href="http://www.businessinsider.com/coca-cola-soda-sales-down-by-volume-2016-7">according to Beverage Digest.</a></p>
<p>As a result, Coca-Cola and Pepsi are looking to&nbsp;other beverages to&nbsp;grow sales.</p>
<p>PepsiCo CEO Indra Nooyi said in April that less than 25 percent of the <a href="http://www.businessinsider.com/pepsi-shifts-away-from-soda-2016-4">company’s global sales are from soda.</a> Rather, the company is focusing on healthy snacks and noncarbonated beverages—a process the company calls “future-proofing.”</p>
<p>Similarly, Coca-Cola’s “still” beverages such as tea, juice, and bottled water are growing sales by volume as soda shrinks.</p>
<p>“Since 2000, we’ve increased our business from about 10 percent of our volume coming from still beverages to almost 30 percent today,’ COO James Quincey <a href="http://www.businessinsider.com/coca-cola-soda-sales-down-by-volume-2016-7">said in a Q&amp;A in July.</a></p>
<p>Bottled coffee and tea are a key part of that growth. In fact, RBC analyst Nik Modi has theorized that <a href="http://www.businessinsider.com/starbucks-takes-down-coca-cola-and-pepsi-2016-6">soda’s decline is directly linked to the growth of coffee</a>—specifically, Starbucks’ coffee.</p>
<p>“Twenty years ago, people used to wake up with a Diet Coke or a Diet Pepsi,” Modi said in June at Beverage Digest’s Future Smarts conference. “At around 2 o’clock, they’d have another and take a break. Walk in front of a Starbucks at 8 a.m. and 2 p.m. and tell me how long the lines are.”</p>
<p>If Starbucks’ is trying to steal Coca-Cola’s business, now, the soda giant is ready to fight back.</p>
<p>The company has already made major investments in ready-to-drink tea, with billion dollar tea brands including Gold Peak and Fuze Tea. The ready-to-drink tea business has grown <a href="http://www.businessinsider.com/starbucks-takes-down-coca-cola-and-pepsi-2016-6">91 percent in the past 15 years,</a> making it a crucial category for Coca-Cola’s investments.</p>
<p>Now, it seems coffee is the next target.</p>
<p>Ready-to-drink coffee is an estimated $2 billion business in North America, and expected to grow to a $2.3 billion market by 2020, <a href="http://www.cbs8.com/story/32466415/north-american-ready-to-drink-coffee-market-growth-trends-forecasts-to-2020-research-and-markets">according to Research and Markets.</a></p>
<p>Coca-Cola already sells bottled Illy brand coffee in the U.S., partnering <a href="http://www.foodbev.com/news/coca-cola-and-illy-team-up-in-coffee-venture/">with the company in 2007.</a> It also sells Gold Peak coffee, but not as a bottled, ready-to-drink beverage.</p>
<p>In more general coffee investments, Coca-Cola spent $2.4 billion on a 16 percent stake in Keurig in 2014 and partnered with Keurig in creating Keurig Kold flavors, such as Diet Coke and Sprite. When JAB Group acquired Keurig, Coca-Cola sold its equity stake in the venture.</p>
<p>See also: <a href="http://www.businessinsider.com/berkeley-soda-tax-lowered-soda-consumption-study-finds-2016-8">A new study should have Coke and Pepsi terrified</a></p>
<p><em><strong>*Correction, Sept. 6, 2016: </strong>Due to a production error, an earlier version of this post&nbsp;misidentified author Kate Taylor in the byline.</em></p>Sat, 03 Sep 2016 13:00:00 GMThttp://www.slate.com/blogs/business_insider/2016/09/03/coca_cola_is_entering_the_coffee_business.htmlKate Taylor2016-09-03T13:00:00ZBusinessWhy Coca-Cola Is Getting Into the Coffee Game235160903001coca-colaKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/03/coca_cola_is_entering_the_coffee_business.htmlfalsefalsefalseWhy Coca-Cola is getting into the coffee game.The afternoon Diet Coke has been supplanted by the afternoon Starbucks, and Coca-Cola knows it.Photo by Justin Sullivan/Getty ImagesOpening a bottle of Coke? Sipping a coffee? Soon Coca-Cola will be providing both.&nbsp;Samsung Is Recalling Its Exploding Phone. And Its Problems Are Only Getting Worse.http://www.slate.com/blogs/business_insider/2016/09/02/samsung_suspends_sales_of_galaxy_note_7_amid_explosive_battery_reports.html
<p><em>This <a href="http://www.businessinsider.com/samsung-global-recall-galaxy-note-7-batteries-explode-iphone-7-2016-9">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Samsung’s nightmare scenario is happening.</p>
<p><a href="http://uk.businessinsider.com/samsung-note-7-smartphone-battery-explosion-2016-9">The South Korean electronics giant was forced to suspend sales of its new flagship smartphone, the Galaxy Note 7</a>, on Friday because dozens of the handsets have exploded.</p>
<p>The phone, which has been extremely well reviewed, is now also being recalled worldwide, in a move that is likely to cost Samsung hundreds of millions of dollars.</p>
<p>And compounding matters, the colossal disaster comes on the eve of the launch of a new iPhone from Samsung’s archrival Apple. It’s hard to overstate the size of this screw-up.</p>
<p>Samsung’s star has recently been in the ascendancy. <a href="http://uk.businessinsider.com/samsung-is-fighting-a-massive-global-trend-and-losing-badly-2015-9">After years of wobbly sales and falling profits</a>, the company was supposed to be onto a winner with the Note 7, and it has been <a href="http://www.businessinsider.com/samsung-stock-galaxy-note-7-battery-2016-9">on track for its first mobile profit growth in three years</a>. Critics raved about the large-screened smartphone, and since its August 19 launch <a href="http://www.reuters.com/article/us-samsung-elec-smartphones-replacement-idUSKCN1180TV?feedType=RSS&amp;feedName=topNews&amp;utm_source=twitter&amp;utm_medium=Social">about 2.5 million phones have been sold</a>. The Note 7 was coasting to victory on the back of its predecessor models, the Galaxy S6 and the S6 Edge from last year, which got Samsung’s revenue growing again after years of decline.</p>
<p>What’s more, expectations for Apple’s next iPhone, scheduled to launch later this month, are tepid. The device is expected to be only an incremental upgrade on its predecessor, the iPhone 6s. (A more radical overhaul is expected next year for the 10th anniversary of the launch of the iPhone.)</p>
<p>As such, the Note 7 had the stage to itself. It had the momentum. It was in with a very real shot at being <em>the</em> phone of 2016. But it has <a href="http://static4.businessinsider.com/image/57c95c3add089519208b4821-1053/note%207%20melted.jpg">exploded</a> instead.</p>
<p>In a statement to the press on Friday, Samsung said there had been 35 cases worldwide in which Galaxy Note 7 batteries had exploded.</p>
<p>“We are currently conducting a thorough inspection with our suppliers to identify possible affected batteries in the market,” the company said—and it is taking the unprecedented step of halting sales of the Note 7.</p>
<p>For the millions of devices already sold, a recall is in effect, the company said: “For customers who already have Galaxy Note 7 devices, we will voluntarily replace their current device with a new one over the coming weeks. We acknowledge the inconvenience this may cause in the market but this is to ensure that Samsung continues to deliver the highest quality products to our customers. We are working closely with our partners to ensure the replacement experience is as convenient and efficient as possible.”</p>
<p>This is devastating for Samsung, both financially and reputationally.</p>
<p>Back-of-the-envelope calculations about component parts are unreliable, but it’s fair to say that replacing 2.5 million devices will cost Samsung, in the short term, hundreds of millions of dollars.</p>
<p>It will also do brutal damage to Samsung's reputation for quality.</p>
<p><a href="http://www.businessinsider.com/samsung-stock-galaxy-note-7-battery-2016-9">Reports of exploding batteries gave Samsung’s stock a battering</a> on Thursday, wiping $7 billion off the company’s market value. Now that the recall has been confirmed, the company's value will most likely plunge further.</p>
<p>For years, Samsung’s devices had a reputation for being subpar; its phones were often made of plastic when top-line rivals used metal and glass. In the past two years, however, Samsung turned that around with a series of gorgeous all-metal models. The Note 7 was, by all accounts, the best yet.</p>
<p>There are a few&nbsp;small positives to be drawn from the mess: Relatively few Note 7 devices have actually been sold (annual sales tend to run toward 50 million units or more), and most of the damage is in Asia and not the West. And Samsung appears to have jumped out in front of the problem, recalling everything immediately, rather than going into denial or engaging in a clumsy cover-up. In the long run that may burnish Samsung’s reputation for trustworthiness.</p>
<p>But right now, the deck is burning.</p>
<p>Here’s the full statement from Samsung:</p>
<blockquote>
Samsung is committed to producing the highest quality products and we take every incident report from our valued customers very seriously. In response to recently reported cases of the new Galaxy Note 7, we conducted a thorough investigation and found a battery cell issue.”
</blockquote>
<blockquote>
“To date (as of September 1) there have been 35 cases that have been reported globally and we are currently conducting a thorough inspection with our suppliers to identify possible affected batteries in the market. However, because our customers’ safety is an absolute priority at Samsung, we have stopped sales of the Galaxy Note 7.”
</blockquote>
<blockquote>
“For customers who already have Galaxy Note7 devices, we will voluntarily replace their current device with a new one over the coming weeks. We acknowledge the inconvenience this may cause in the market but this is to ensure that Samsung continues to deliver the highest quality products to our customers. We are working closely with our partners to ensure the replacement experience is as convenient and efficient as possible.
</blockquote>
<p>See also: <a href="http://www.businessinsider.com/iphone-ios-update-fixes-security-issue-2016-8">Apple just fixed a major security problem—and you should update your iPhone right now</a></p>Fri, 02 Sep 2016 16:18:00 GMThttp://www.slate.com/blogs/business_insider/2016/09/02/samsung_suspends_sales_of_galaxy_note_7_amid_explosive_battery_reports.htmlRob Price2016-09-02T16:18:00ZBusinessSamsung Is Recalling Its Exploding Phone. And Its Problems Are Only Getting Worse.235160902001samsungRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/02/samsung_suspends_sales_of_galaxy_note_7_amid_explosive_battery_reports.htmlfalsefalsefalseSamsung suspends sales of Galaxy Note 7 amid explosive battery reports.This has really blown up for Samsung, and not in a good way:Photo by Drew Angerer/Getty ImagesIt might be a while until these on are the shelves again.Walmart Is Cutting 7,000 Office Jobshttp://www.slate.com/blogs/business_insider/2016/09/01/walmart_wants_back_office_employees_interacting_with_customers_instead_of.html
<p><em>This <a href="http://www.businessinsider.com/walmart-job-cuts-2016-9"></a></em><a href="http://www.businessinsider.com/theranos-elizabeth-holmes-zika-test-fda-2016-8"><em>post</em></a><em> originally appeared on </em><a href="http://www.businessinsider.com/"><em>Business Insider.</em></a></p>
<p>Walmart is cutting 7,000 office jobs from its retail stores.</p>
<p>The positions, which involve invoicing and accounting in stores' back offices, are among the company's highest-paid hourly jobs. <a href="http://www.wsj.com/articles/wal-mart-to-cut-7-000-back-office-store-jobs-1472743429">Sarah Nassauer at the <em>Wall Street Journal</em></a> first reported the cuts.</p>
<p>Walmart wants&nbsp;its&nbsp;back-office&nbsp;employees&nbsp;interacting with shoppers&nbsp;instead of doing paperwork,&nbsp;a Walmart spokeswoman told <em>Business Insider</em>.</p>
<p>Employees affected by the cuts will be shifted into customer-facing roles, such as the online pickup department or grocery department.</p>
<p>Some associates will see their pay drop, as a result. But not all associates' wages will change. </p>
<p>&quot;There will be a a mix, depending on the new roles,&quot; the spokeswoman said. &quot;Some will see higher pay, some might see a slight decrease.&quot;</p>
<p>Instead of having workers in each store manage paperwork, those duties will be automated or shifted to the company's home office in Bentonville, Arkansas.</p>
<p>See also: <a href="http://www.businessinsider.com/items-should-not-buy-costco-2016-8">9 items you shouldn't buy at Costco</a></p>Thu, 01 Sep 2016 17:25:09 GMThttp://www.slate.com/blogs/business_insider/2016/09/01/walmart_wants_back_office_employees_interacting_with_customers_instead_of.htmlHayley Peterson2016-09-01T17:25:09ZBusinessWalmart Is Cutting 7,000 Office Jobs235160901001walmartHayley PetersonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/09/01/walmart_wants_back_office_employees_interacting_with_customers_instead_of.htmlfalsefalsefalseWalmart is cutting 7,000 office jobsJeez.Photo by Ethan Miller/Getty ImagesWalmart is making some big cuts.Theranos Is Temporarily Withdrawing Its Month-Old Zika Test&nbsp;http://www.slate.com/blogs/business_insider/2016/08/31/fda_found_that_theranos_collected_some_data_with_no_patient_safety_plan.html
<p><em>This <a href="http://www.businessinsider.com/theranos-elizabeth-holmes-zika-test-fda-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Theranos is withdrawing its bid for FDA approval of a&nbsp;diagnostic test for Zika that they announced&nbsp;earlier in August, according to a story&nbsp;in <a href="http://www.wsj.com/articles/theranos-halts-new-zika-test-after-fda-inspection-1472598332">the <em>Wall Street Journal</em></a>.</p>
<p>Theranos confirmed to <em>Business Insider</em> that the test has been withdrawn, but said the&nbsp;company has&nbsp;plans to resubmit it.</p>
<p><a href="http://www.wsj.com/articles/theranos-halts-new-zika-test-after-fda-inspection-1472598332">John Carreyrou and Christopher Weaver report</a> that&nbsp;an FDA inspection found that, as part of a study to validate the new test, the company had collected some data without a patient safety plan in place that was approved by an <a href="http://www.fda.gov/RegulatoryInformation/Guidances/ucm126420.htm">institutional review board</a>.</p>
<p>The role of the board is to make sure that ahead of the trial and during it, the subjects’ rights and welfare are protected, according to the FDA. It’s a standard part of running studies that involve humans.</p>
<p>In the case of the Theranos study, the <em>Journal</em> noted, “it isn’t clear if the problem affected any patients.”</p>
<p>“We hope that our decision to withdraw the Zika submission voluntarily is further evidence of our commitment to engage positively with the agency. We are confident in the Zika tests and will resubmit it,” Theranos vice president of regulatory and quality Dave Wurtz&nbsp;said in a statement emailed to <em>Business Insider</em>.&nbsp;Wurtz <a href="http://www.businessinsider.com/theranos-adds-new-regulatory-positions-2016-7">joined the company&nbsp;in July</a>.</p>
<p>Earlier this month, Theranos debuted a new blood-testing system at the <a href="http://www.businessinsider.com/theranos-used-its-scientific-conference-presentation-to-unveil-its-new-products-and-people-werent-loving-it-2016-8">American Association for Clinical Chemistry’s annual conference</a>—its first medical conference appearance—that included a machine that takes the sample of blood and processes it so it can give a diagnosis or tell you your cholesterol level. Theranos is calling the device the “miniLab.”</p>
<p>Along with the miniLab, CEO Elizabeth Holmes also <a href="http://www.businessinsider.com/theranos-scientific-presentation-aacc-conference-2016-8">ran through a diagnostic test for the Zika virus</a>, which the company&nbsp;was running studies on in the Dominican Republic and Colombia. As part of that, the company was collecting finger-stick blood samples from the Dominican Republic to validate the test.</p>
<p>On Friday, Theranos <a href="http://www.businessinsider.com/theranos-appeals-cms-sanctions-2016-8">said it was</a> appealing the <a href="http://www.businessinsider.com/what-theranos-has-left-after-elzabeth-holmes-banned-2016-7">government sanctions</a> that have barred Holmes from running a blood-testing lab for two years.</p>
<p>The sanctions from Centers for Medicare and Medicaid Services, which has oversight of&nbsp;labs like Theranos’, came after the company failed its California lab inspection. The California lab doesn’t currently test&nbsp;patients, but the company’s Arizona lab is still up and running.</p>
<p>The sanctions <a href="http://www.businessinsider.com/what-theranos-has-left-after-elzabeth-holmes-banned-2016-7">from July also included revoking</a> the California lab’s Clinical Laboratory Improvement Amendments license (the regulatory standards that apply to all clinical labs) after 60 days, prohibiting the lab from participating in the Medicare program and canceling the lab's approval to receive Medicare payments.</p>
<p>“Theranos has made substantial progress toward correcting the deficiencies CMS identified, including appointing new laboratory leadership; enhancing Theranos’ clinical policies and procedures; and revamping training programs,” <a href="https://news.theranos.com/2016/08/25/theranos-to-appeal-cms-sanctions/">the company said in a release</a>.</p>
<p>See also: <a href="http://www.businessinsider.com/fda-approves-novartis-enbrel-biosimilar-2016-8">A new drug that could save the US billions just got approved</a></p>Wed, 31 Aug 2016 22:13:10 GMThttp://www.slate.com/blogs/business_insider/2016/08/31/fda_found_that_theranos_collected_some_data_with_no_patient_safety_plan.htmlLydia Ramsey2016-08-31T22:13:10ZBusinessTheranos Is Temporarily Withdrawing Its Month-Old Zika Test235160831001fdaLydia RamseyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/31/fda_found_that_theranos_collected_some_data_with_no_patient_safety_plan.htmlfalsefalsefalseTheranos withdraws its zika diagnostic test just a month after announcing itThe embattled company says its Zika test will be back soon.Photo by Lisa Lake/Getty ImagesElizabeth Holmes, Founder &amp; CEO of Theranos.&nbsp;Apple to EU: You Can Have Taxes or You Can Have Jobs. Your Choice.http://www.slate.com/blogs/business_insider/2016/08/30/apple_says_new_taxes_will_have_profound_and_harmful_effect_on_investment.html
<p><em>This <a href="http://www.businessinsider.com/apple-eu-tax-ruling-profound-harmful-effect-investment-job-creation-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Apple’s official statement on the EU ruling against its Irish tax arrangements tells you all you need to know about what is at stake: You can have taxes or you can have jobs, but Apple is in no mood to deliver both.</p>
<p>After learning on Tuesday morning that <a href="http://uk.businessinsider.com/apple-has-been-fined-by-the-eu-2016-8">the EU expects Apple to pay 13 billion euros—equal to 11 billion pounds or $14.5 billion—in back taxes</a>, the company said, “<a href="http://uk.businessinsider.com/apple-has-been-fined-by-the-eu-2016-8">It will have a profound and harmful effect on investment and job creation in Europe</a>.”</p>
<p>That is not a threat, technically, but it will be seen as one by EU politicians who want to attract new companies to their countries.</p>
<p>In 1991, Apple struck a tax deal with Ireland that was aboveboard and legal. The <a href="http://europeanlawblog.eu/?p=2565">Irish government provided Apple with a “comfort letter</a>”&nbsp;that said the company would pay very low rates of tax if it based its European operations in Ireland.</p>
<p>In the 25 years since, Apple has created thousands of jobs in Ireland. By <a href="http://www.thejournal.ie/apple-jobs-announcement-ireland-2437069-Nov2015/">2015, it had 5,000 employees</a> in the country. Another <a href="http://uk.businessinsider.com/apples-plan-to-expand-its-european-hq-has-been-approved-2016-8">1,000 jobs are planned for the headquarters in the Irish city of Cork</a>. This year, <a href="http://uk.businessinsider.com/apples-ireland-data-centre-approved-2016-8?r=US&amp;IR=T">Apple will open its site near the town of Athenry</a>, with another 200 jobs in the making.</p>
<p>The result of the deal between Apple and Ireland, intended or not, was pretty clear: Give us low taxes, and we will give you jobs. <a href="http://uk.businessinsider.com/how-apple-managed-to-get-its-tax-deal-in-ireland-in-1991-2016-8">A note from a meeting between the government and an Apple tax adviser in 1990</a> said:</p>
<p>“Apple was now the largest employer in the Cork area with 1,000 direct employees and 500 persons engaged on a subcontract basis. It was stated that the company is at present reviewing its worldwide operations and wishes to establish a profit margin on its Irish operations.”</p>
<p>Apple is now the largest taxpayer in Ireland, so it has the kind of negotiating strength to get what it wants.</p>
<p>Apple has noted that its tax arrangements <a href="http://www.apple.com/ie/customer-letter/">were agreed to repeatedly by Ireland’s government</a>. The European Commission says that the agreements were legal, albeit mistaken. But Margrethe Vestager, the European Commission’s competition commissioner, <a href="http://europa.eu/rapid/press-release_IP-16-2923_en.htm">made Apple’s Irish tax arrangements sound like a scam</a>:</p>
<ul>
<li>Apple’s effective European tax rate was 1 percent on sales of 16 billion euros or more per year.</li>
<li>It sank as low as 0.005 percent in 2014.</li>
<li>Apple created a head office that did not exist: “This ‘head office’ had no operating capacity to handle and manage the distribution business, or any other substantive business for that matter...The ‘head office’ did not have any employees or own premises.”</li>
<li>The pact deprived other European countries of billions of euros in unpaid taxes.</li>
</ul>
<p>Perhaps the most serious part of Vestager's case against Apple is the way that it contradicts Apple’s long-standing assertion that it does not pay corporation taxes in the US because its foreign—i.e., non-American—revenues are reinvested in the foreign territories that earn them.</p>
<p><a href="http://uk.businessinsider.com/apple-ceo-tim-cook-on-tax-code-during-60-minutes-interview-2015-12">Apple’s annual report has said</a> that “substantially all of the company’s undistributed international earnings intended to be indefinitely reinvested in operations outside the US were generated by subsidiaries organized in Ireland, which has a statutory tax rate of 12.5 percent.”</p>
<p>That 12.5 percent rate appears to have been Irish mist. The European money was actually being funneled back to the US, Vestager says. Apple’s Irish operations had a cost-sharing agreement with the US headquarters in which they were allowed to use Apple’s intellectual property if, in return, they paid for the American R&amp;D expenses to create that IP.</p>
<p><a href="http://europa.eu/rapid/press-release_IP-16-2923_en.htm">The commission statement says</a> (emphasis added):</p>
<p>“Under this agreement, Apple Sales International and Apple Operations Europe make yearly payments to Apple in the US to fund research and development efforts conducted on behalf of the Irish companies in the US. These payments amounted to about US$ 2 billion in 2011 and significantly increased in 2014. These expenses, mainly borne by Apple Sales International, contributed to fund <strong>more than half of all research efforts by the Apple group in the US </strong>to develop its intellectual property worldwide.”</p>
<p>Critics may also ask how many more jobs would have been created in Europe if the money generated in Europe had actually stayed in Europe.</p>
<p>Vestager’s ruling will also be read as a threat by dozens of other international companies that previously used Europe’s flexible tax arrangements. The European Commission concluded in October that Luxembourg and the Netherlands granted tax advantages to Fiat and Starbucks. It is investigating Amazon and McDonald’s.</p>
<p>The ruling will be appealed, but it will be years before it is resolved. It won’t hurt Apple: 13 billion euros is roughly equivalent to only one month’s revenue, and Apple has always kept a massive amount of cash stashed in foreign countries because it does not want to move it into jurisdictions where it might be taxed.</p>
<p>The more immediate problem is whether global companies will even bother with Ireland in the future if they cannot get the tax breaks they want—and whether that, in the long term, will reduce the total tax take in Europe.</p>
<p>With that in mind, <a href="http://www.apple.com/ie/customer-letter/">Apple published a longer statement on Tuesday morning</a> reiterating the link between jobs and taxes:</p>
<p>“Beyond the obvious targeting of Apple, the most profound and harmful effect of this ruling will be on investment and job creation in Europe. Using the Commission’s theory, every company in Ireland and across Europe is suddenly at risk of being subjected to taxes under laws that never existed.”</p>
<p>“[W]e are committed to Ireland and we plan to continue investing there, growing and serving our customers with the same level of passion and commitment.”</p>
<p>See also: <a href="http://www.businessinsider.com/apple-has-been-fined-by-the-eu-2016-8">EU orders Apple to pay up to $14.5 billion in taxes</a></p>Tue, 30 Aug 2016 21:35:09 GMThttp://www.slate.com/blogs/business_insider/2016/08/30/apple_says_new_taxes_will_have_profound_and_harmful_effect_on_investment.htmlJim Edwards2016-08-30T21:35:09ZBusinessApple to EU: You Can Have Taxes or You Can Have Jobs. Your Choice.235160830002appleJim EdwardsBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/30/apple_says_new_taxes_will_have_profound_and_harmful_effect_on_investment.htmlfalsefalsefalseApple to EU: You can have taxes or you can have jobs. Your choice.Oof.Photo by Stephen Lam/ Getty ImagesApple CEO Tim Cook.The EU Is About to Hit Apple With the Largest Tax Penalty Ever&nbsp;http://www.slate.com/blogs/business_insider/2016/08/30/the_eu_claims_that_apple_received_illegal_state_aid_from_ireland.html
<p><em>This <a href="http://www.businessinsider.com/eu-set-to-rule-against-apple-ireland-tax-structure-2016-8">post</a> originally appeared on&nbsp;<a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>One of the worst-case scenarios for Apple’s tax predicament looks as if it’s about to come true.</p>
<p>Margrethe Vestager, the EU’s competition commissioner, has distributed a 130-page judgment on Apple’s Ireland operations, the <a href="http://www.ft.com/cms/s/0/7fd897de-6e03-11e6-a0c9-1365ce54b926.html#axzz4Ij3MOzO0">Financial Times reports</a>, ahead of an official ruling on Apple’s tax structure expected on Tuesday.</p>
<p>The European Commission started to look into Apple’s Irish tax rate in 2014, so Tuesday’s decision will be the culmination of a three-year investigation.</p>
<p>The commission concluded that Apple received “illegal state aid” from Ireland—essentially a sweetheart deal that allowed the computer maker to unfairly reduce its tax bill in a way not available to other companies, according to the report.</p>
<p>The commission focused on how and where Apple lists its intellectual property for tax purposes, which is one of the major loopholes that critics claim tech companies use to funnel assets to low-tax countries.</p>
<p>The decision does not have a specific fine attached, but it is expected to be Europe’s largest tax penalty ever, <a href="http://www.ft.com/cms/s/0/7fd897de-6e03-11e6-a0c9-1365ce54b926.html#axzz4Ij3MOzO0">according to the Financial Times</a>, which pegs the amount at “billions of euro.” Vestager will reveal the commission’s estimate on Tuesday.</p>
<p>Previous estimates have pegged Apple’s liability over back taxes in Ireland at as much <a href="http://www.businessinsider.com/apple-taxes-us-treasury-european-commission-2016-8">as $19 billion</a>, but other estimates have it at <a href="http://www.irishtimes.com/business/economy/eu-to-rule-against-ireland-in-apple-tax-case-1.2769865">under $1 billion</a>.</p>
<p><a href="http://www.cnbc.com/2016/08/29/european-commission-to-rule-against-irelands-tax-arrangement-with-apple-source.html">Reuters reports</a> that the commission will recommend that Ireland should recoup “over 1 billion euros” from Apple.&nbsp;</p>
<p>It is expected to be larger than the biggest EU penalty to date—1.4 billion euros, levied against French energy group EDF in 2015.</p>
<p>Apple may have to restate its accounts in Ireland and issue new financial statements.</p>
<p>Last week, the <a href="http://www.businessinsider.com/apple-taxes-us-treasury-european-commission-2016-8">US Treasury warned the EU</a> that if it decided to claw back large amounts of tax from Apple, that it could create an “unfortunate precedent.”</p>
<p>Apple CEO Tim Cook has criticized the international tax system as “not good,” and has vowed to appeal the decision if he feels that Apple didn't “get a fair hearing.”</p>
<p>“Let me explain what goes on with our international taxes. The money that’s in Ireland that he’s probably referring to is money that is subject to U.S. taxes. The tax law right now says we can keep that in Ireland or we can bring it back,” Cook told <a href="http://www.washingtonpost.com/sf/business/wp/2016/08/13/2016/08/13/tim-cook-the-interview-running-apple-is-sort-of-a-lonely-job/">The Washington Post</a>.</p>
<p>“It’s important for everyone to understand that the allegation made in the E.U. is that Ireland gave us a special deal. Ireland denies that,” Cook said. “The basic controversy at the root of this is, people really aren’t arguing that Apple should pay more taxes. They’re arguing about who they should be paid to. And so there’s a tug of war going on between the countries of how you allocate profits.”</p>
<p>Apple did not immediately respond to a request for comment.</p>
<p></p>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/apple-subsidiaries-are-named-for-apples-2016-8">Inside Apple’s Irish subsidiaries</a></p>Tue, 30 Aug 2016 12:23:04 GMThttp://www.slate.com/blogs/business_insider/2016/08/30/the_eu_claims_that_apple_received_illegal_state_aid_from_ireland.htmlKif Leswing2016-08-30T12:23:04ZBusinessThe EU Is About to Hit Apple With the Largest Tax Penalty Ever235160830001appleKif LeswingBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/30/the_eu_claims_that_apple_received_illegal_state_aid_from_ireland.htmlfalsefalsefalseThe EU claims that Apple received “illegal state aid” from IrelandApple is about to take a big hit:Photo by GABRIELLE LURIE/AFP/Getty ImagesThe EU is about to take a big bite out of Apple.&nbsp;Ryan Lochte Found a Throat Drop Company to Sponsor Himhttp://www.slate.com/blogs/business_insider/2016/08/26/pine_bros_agrees_to_sponsor_ryan_lochte_despite_rio_incident.html
<p><em>This <a href="http://www.businessinsider.com/ryan-lochte-signs-endorsement-deal-with-pine-bros-throat-drops-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>U.S. Olympian Ryan Lochte has managed to find a brand that still wants to sponsor him after he admitted to making&nbsp;up a story about being robbed at gunpoint at the Rio Olympics earlier this month.</p>
<p>The swimmer has signed a deal with Pine Bros. Softish Throat Drops, <a href="http://www.adweek.com/news/advertising-branding/ryan-lochte-inks-endorsement-deal-pine-bros-throat-drops-173144"><em>Adweek</em> reported</a>.</p>
<p><a href="https://twitter.com/RyanLochte/status/768906082815135744?ref_src=twsrc%5Etfw">Lochte confirmed the deal on Twitter</a>, saying: “Thanks to all the folks at pine bros. [sic] for your confidence in me. I look forward to making you proud.”</p>
<p>He will appear in a commercial and print ads for the brand that will include the tagline: “Pine Brothers Softish Throat Drops: Forgiving On Your Throat.”</p>
<p>It's not a huge brand and it’ll unlikely be a major campaign, but the timing is perfect for the company to get maximum exposure as Lochte dominates the headlines.</p>
<p>In a statement, Pine Bros. CEO Rider McDowell said: “We all make mistakes, but they’re rarely given front-page scrutiny. He’s a great&nbsp;guy who has done incredible work with charities. I’m confident that Pine Bros. fans will support our decision to give Ryan a second chance.”</p>
<p>The announcement came on the same day Lochte was reportedly charged by Brazilian police over the false robbery claim. Brazil’s Justice Department is summoning Lochte back to Rio to appear in court for a hearing about the incident, which he has since described as an “over-exaggeration.”</p>
<p>Reports and security footage have since appeared to show that the events of that evening actually stemmed from an altercation with security staff at a gas station where he and his teammates had stopped to use the bathroom.&nbsp;Lochte and his teammates reportedly damaged the gas station and were stopped by armed security when they attempted to leave. Security reportedly demanded money for the damages, which the swimmers paid in cash.</p>
<p><a href="http://www.businessinsider.com/ryan-lochte-statement-rio-gas-station-incident-2016-8">Lochte has since apologized over the incident</a>, saying in a statement that he accepted “responsibility for my role in this happening and have learned some valuable lessons.”</p>
<p><a href="http://uk.businessinsider.com/speedo-ends-ryan-lochte-sponsorship-2016-8">Lochte has lost all his major sponsors over the episode</a>, with Speedo, Ralph Lauren, mattress company Airweave, and Gentle Hair Removal parent company Syneron-Candela all announcing they were dropping ties with the athlete on Monday.</p>
<p>See also: <a href="http://uk.businessinsider.com/ryan-lochte-dumped-by-sponsors-2016-8">Sponsors dumping Ryan Lochte was a smart business move, but not for the reason most people think</a></p>Fri, 26 Aug 2016 13:16:31 GMThttp://www.slate.com/blogs/business_insider/2016/08/26/pine_bros_agrees_to_sponsor_ryan_lochte_despite_rio_incident.htmlLara O'Reilly2016-08-26T13:16:31ZBusinessRyan Lochte Found a Throat Drop Company to Sponsor Him235160826001rio olympicsLara O'ReillyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/26/pine_bros_agrees_to_sponsor_ryan_lochte_despite_rio_incident.htmlfalsefalsefalseRyan Lochte found a throat drop company to sponsor him*Cough*Photo by Odd Anderson/AFP/Getty ImagesHis throat must be sore from all the stories he has been telling...Costco Dropped AmEx and Now Only Takes Visa. The Result Is a Gigantic Mess.http://www.slate.com/blogs/business_insider/2016/08/24/costco_transitioned_from_american_express_to_visa_and_it_did_not_go_smoothly.html
<p><em>This <a href="http://www.businessinsider.com/the-story-of-costcos-disaster-credit-card-switch-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>When Costco began transitioning from <a href="http://www.businessinsider.com/costcos-credit-card-swap-is-a-disaster-2016-6">American Express to Visa</a> as its exclusive credit card partner in June, delays and confusion had <a href="http://www.businessinsider.com/costcos-credit-card-swap-is-a-disaster-2016-6">customers threatening to cancel their memberships</a>.</p>
<p>Now, two months later, some Costco members say that major problems remain—and that Citi, the card issuer, and Costco aren’t doing enough to fix them.</p>
<p>In addition to making Visa the only credit card customers can use at Costco, the transition meant that 11 million of Costco’s 81 million members worldwide with Costco co-branded credit cards had to switch from the TrueEarnings American Express Costco card to the Costco Anywhere Visa.</p>
<p>Initial issues ranged from general confusion to customers not receiving their new cards to difficulty getting a customer service representative on the phone.</p>
<p>Roughly 50 Costco cardholders reached out to <em>Business Insider</em> with stories of their experiences regarding the transition. While a handful described positive experiences, most were horror stories.</p>
<p>Citi CEO Michael Corbat responded to the complaints in July, saying that concerns were “<a href="http://www.businessinsider.com/citi-resolving-costco-credit-card-disaster-2016-7">something we can fix in the short order.</a>”</p>
<p>But Costco members are saying the fix never came. Instead, many say they’ve spent hours on the phone over the last two months waiting to talk to customer service representatives.</p>
<p>“I am no longer a Costco member. The credit card fiasco is the reason,” Blaine Holbrook said in an email to <em>Business Insider</em>.</p>
<p>Holbrook said he called Citi and Costco four times in an effort to get Citi to send his wife a functioning cobranded credit card, but that never happened. Finally, Holbrook canceled his Costco membership as well as all of his Citi credit cards.</p>
<p>Citi, which has taken the primary role in managing the transition as the credit card issuer, maintains that the switch has been a success, with nearly 900,000 new applications for credit cards. The angry customers, according to Citi, represent a small minority.</p>
<p>The most common complaints from Costco members involved getting the new credit card. Many said Citi mailed them unauthorized cards, credit cards with incorrect member numbers, or simply nothing at all.</p>
<p>Neikya Morris told <em>Business Insider </em>she made five calls to Citi over two months in an attempt to get a Visa-Costco card. Morris said both she and her husband were deployed to Afghanistan before the issue was resolved.</p>
<p>“I was leaving for Afghanistan the next day and decided that I had had enough of the foolishness and incompetency of this entire process,” she said in an email. “We are loyal customers of Costco, so we continue to hold the membership, but we will rethink this we when return home from our deployments.”</p>
<p>Problems with automatic payments were another issue Costco members reported to <em>Business Insider</em>. In a number of cases, automatic payment setups failed—something some customers didn’t discover until Citi charged interest on unpaid balances or canceled users’ credit cards.</p>
<p>Ernest Garcia, from Amelia Island, Florida, said he was speaking with Citi on the phone two to three times a week for the last three to four weeks trying to figure out an issue with automatic payments. The problem came to a head last weekend when his wife’s card was canceled, despite the company’s promise that that wouldn’t happen.</p>
<p>“She was visiting family in Georgia and took them for lunch...she got the biggest embarrassment anyone could have in front of all these people. She was told by the waiter that Citi/Visa had cancelled her card,” Garcia wrote in an email. “I have been a customer since they were known as Price Club in the 1990s and now Costco and I was getting ready to dump them…I'm retired and life is [too] short to be going through this.”</p>
<p>Other problems include confusion regarding Citi’s website, unexpected pending charges, and roadblocks for international travelers. Certain payments made around the time of the transition seem to have not transferred from American Express to Citi, and other members expressed confusion about the card’s APR.</p>
<p>No matter the cardholders’ initial problems, long wait times to speak with customer service representatives were a common source of frustration. Some customers eventually hung up before they could receive a response.</p>
<p>Several Costco members reported frustrating back-and-forths with Citi via phone calls, text messages, emails, and mail, lasting anywhere from several days to more than a month. More than one Costco member said the confusion is ongoing and that they would have to wait to receive their next credit card bill to see if Costco had solved the issues.</p>
<p>From Citi’s perspective, however, the transition has been a success—and the company has data to prove it.</p>
<p>Citi told <em>Business Insider</em> that it has received almost 900,000 new applications for the Visa credit card since June 20.</p>
<p>The bank had anticipated some problems because of the magnitude of the switch.</p>
<p>“With a conversion of this magnitude—one of the single largest portfolio conversions in history (11 million cards)—and a brand as beloved as Costco, call volumes were unprecedented,” Jennifer Bombardier, a Citi spokesperson, told <em>Business Insider</em>. “With a portfolio of this size and eight months of pent-up demand during which time we couldn't address questions on the new product or existing accounts as the portfolio was with a different issuer, the call volume was groundbreaking as of June 20.”</p>
<p>After a few days of long wait times, however, Bombardier said that Citi worked to address the problem.</p>
<p>“We have apologized for that inconvenience, and while we had staffed up to prepare for the conversion, we swiftly took additional actions to better meet the demand for the new cards,” she said in an email. “Since then—average call wait times have lessened significantly. For example, this weekend, average call wait times were in the seconds.”</p>
<p>While the <em>average</em> may have been just a few seconds, Costco members told <em>Business Insider </em>they waited for <a href="http://www.businessinsider.com/costco-citi-card-is-still-a-nightmare-for-members-2016-8">more than half an hour to speak to representatives last week</a>, after Citi erroneously sent emails to Costco members saying their credit card accounts had been closed. (Citi said the incident only affected a small percentage of customers.)</p>
<p>Costco has increased staffing in stores, with about 20 or more employees at each location to help customers sign up for cards and answer questions, Bombardier said. Citi similarly increased staffing at call centers. It alsoup dated its FAQs with information about the switch, and will not apply late fees for payments on Costco accounts on or before the end of July.</p>
<p>A report from Lightspeed Financial Services Group, released in late July, reveals that 5 percent of customers reported a negative experience with Costco surrounding the new card launch. One month after the new cards were issued, 80 percent of customers had used the new card—an experience that 90 percent considered to be positive.</p>
<p>YouGov’s Brand Index data similarly indicates that customer perception of the retailer has been unchanged by the transition.</p>
<p>“We looked at Costco and Visa, and there is absolutely nothing in the data that suggests anything like the ‘disaster’ this is being portrayed to be,” YouGov spokesperson Drew Kerr told <em>Business Insider</em>. “It’s not even statistically significant enough to even merit a significant blip. The data is very accurate at this point, having accumulated it daily.”</p>
<p>In the first three and a half weeks after the transition, <a href="http://www.businessinsider.com/citigroup-is-already-reaping-the-benefits-of-its-costco-deal-2016-7">$5.7 billion in purchases were made on Citi Costco cards</a>. Taking on the Costco credit cards meant that Citi’s North American credit cards segment grew 13 percent in the second quarter.</p>
<p>Costco did not respond to <em>Business Insider’</em>s request to comment for this article.</p>
<p>The solution—if Costco needs one</p>
<p>In the age of social media, when stories travel quickly online, tales of bad customer service can carry a lot of weight. Lightspeed began its report by noting that media coverage of Costco's credit card transition was primarily negative—even if most members didn’t see it that way.</p>
<p>Costco is <a href="http://fortune.com/2015/12/14/costco-loyalty/">a retailer that relies heavily on customer loyalty</a>. Last year, Deutsche Bank cited that loyalty as a reason Costco is “Amazon-proof.” And it’s paying off now. Many Costco members critical of the credit card debacle told <em>Business Insider</em> they would continue to shop there.</p>
<p>“It was poorly transitioned, but I think that big companies always allow for fallout and I am sure would offer something to draw the shoppers back in,” Carol Whitaker, a Costco member who encountered issues receiving a credit card, told <em>Business Insider</em>. “It might be a nice gesture if Costco offered something to all their customers as a sign of goodwill that they appreciate their shoppers. Maybe someone should give that CEO a nudge on how to treat his loyal shoppers. Even if it was a free apple pie it would go a long way.”</p>
<p>See also: <a href="http://www.businessinsider.com/costco-food-court-bbq-brisket-hot-dogs-pizza-churros-2016-3">We tried the Costco food court and it totally blew us away</a></p>Wed, 24 Aug 2016 18:23:09 GMThttp://www.slate.com/blogs/business_insider/2016/08/24/costco_transitioned_from_american_express_to_visa_and_it_did_not_go_smoothly.htmlKate Taylor2016-08-24T18:23:09ZBusinessCostco Dropped AmEx and Now Only Takes Visa. The Result Is a Gigantic Mess.235160824001credit cardsKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/24/costco_transitioned_from_american_express_to_visa_and_it_did_not_go_smoothly.htmlfalsefalsefalseCostco dropped AmEx and now only takes Visa. The result is a gigantic mess.What a migraine.Photo by Justin Sullivan/Getty ImagesCostco’s credit card troubles might be bigger than you think...Amazon Is Reportedly Making a New Music-Streaming Service for the Echohttp://www.slate.com/blogs/business_insider/2016/08/23/amazon_s_new_music_streaming_service_will_be_about_half_the_price_of_spotify.html
<p><em>This <a href="http://www.businessinsider.com/amazon-planning-music-streaming-service-for-echo-2016-8?r=UK&amp;IR=T">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Amazon is developing&nbsp;a new music-streaming service that will be half the price of rival offerings like&nbsp;Spotify, but which will work only on the company’s internet-connected Echo speaker, according to <a href="http://www.recode.net/2016/8/22/12593158/amazon-music-echo-alexa">a report by Recode’s Peter Kafka.</a></p>
<p>The subscription service will&nbsp;cost $4 or $5 a month—half of what competitors like Spotify and Apple Music charge for their streaming offerings—and could debut as soon as September if Amazon reaches deals with music labels, sources told&nbsp;Recode.</p>
<p>The Echo device, which lets users order household items, get the weather, and find other information by speaking in their natural voice, has turned into a surprise hit for Amazon.</p>
<p>But the new Echo-specific music service is not to be confused with another standalone&nbsp;music-streaming subscription service that Amazon also reportedly has <a href="http://www.businessinsider.com/amazon-standalone-music-streaming-service-2016-6">in the works</a> and which would cost $10 a month.</p>
<p>Both new streaming-music services would allow users to listen to any tracks that they like, free of ads. That’s different than Amazon’s existing Amazon Music service, which gives&nbsp;Amazon Prime subscribers access to a limited library of music.</p>
<p><a href="http://www.recode.net/2016/8/22/12593158/amazon-music-echo-alexa">You can read the full Recode post here.</a></p>
<p>Disclosure: Jeff Bezos is an investor in&nbsp;<em>Business Insider</em> through his personal investment company Bezos Expeditions.</p>
<p>See also : <a href="http://www.businessinsider.com/inside-amazon-warehouse-2016-8">Amazon has an oddly efficient way of storing stuff in its warehouses</a></p>Tue, 23 Aug 2016 18:51:46 GMThttp://www.slate.com/blogs/business_insider/2016/08/23/amazon_s_new_music_streaming_service_will_be_about_half_the_price_of_spotify.htmlChris Sanchez2016-08-23T18:51:46ZBusinessAmazon Is Reportedly Making a New Music-Streaming Service for the Echo235160823001amazon.comChris SanchezBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/23/amazon_s_new_music_streaming_service_will_be_about_half_the_price_of_spotify.htmlfalsefalsefalseAmazon is reportedly making a new music-streaming service for EchoAnd it'll be cheaper than Spotify.Photo by Ethan Miller/Getty ImagesThe Echo can tell you the weather, order your groceries, and soon it might be playing your music.Pfizer Just Paid Billions for the Company Behind the Outrageous $129,000 Cancer Drughttp://www.slate.com/blogs/business_insider/2016/08/22/why_pfizer_bid_14_billion_to_acquire_cancer_drugmaker_with_just_one_approved.html
<p><em>This <a href="http://www.businessinsider.com/why-pfizer-acquired-cancer-drugmaker-medivation-for-14-billion-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Pfizer just outbid numerous competitors for Medivation, a cancer drugmaker with just one approved drug.</p>
<p>The $14 billion deal, at $81.50 a share, is a&nbsp;<a href="http://www.businessinsider.com/medivation-rejects-sanofis-93-billion-takeover-bid-2016-4">notable premium to the $9.3 billion</a> offer the pharma giant Sanofi had made earlier this year. Medivation had rejected that approach.</p>
<p>The high price may come as a surprise, considering Medivation was trading at $67.16 on Friday. But there are a few key drugs that both <a href="http://www.pfizer.com/news/press-release/press-release-detail/pfizer_to_acquire_medivation">Medivation and Pfizer</a> touted as the reason for the deal.</p>
<p>“We believe the additional premium of 21 percent over the current Medivation stock price—which was already trading at the Sanofi takeout bid premium—does clearly highlight the willingness of companies to pay substantial prices given unmet need for de-risked commercial and promising pipeline assets,” Jefferies analyst Dr. Brian Abrahams said in a note Monday.</p>
<p>Pfizer already has a few cancer drugs on the market, including Ibrance, which is used to treat people with <a href="http://www.pfizer.com/news/press-release/press-release-detail/pfizer_receives_expanded_fda_approval_for_ibrance_palbociclib_in_hr_her2_metastatic_breast_cancer">certain types of breast cancer</a>.</p>
<p>Medivation’s one drug on the market already is called Xtandi, or enzalutamide, which it developed with the Japanese company Astellas. The oral drug is used to treat late-stage prostate cancer. It was originally approved <a href="http://www.fda.gov/drugs/informationondrugs/approveddrugs/ucm317997.htm">by the Food and Drug Administration in 2012</a>; it does cost a list price of $129,000 in the U.S., however, which has gotten it <a href="http://www.businessinsider.com/congress-taking-on-xtandi-price-2016-3">in some hot water with Congress</a>.</p>
<p>But Medivation’s big appeal comes also comes from two experimental drugs that the San Francisco-based biotech firm has in late-stage development.</p>
<p>Here's what's in Medivation’s pipeline that makes it worth $14 billion to Pfizer:</p>
<ul>
<li>The most notable is an experimental breast-cancer treatment called talazoparib, which Medivation acquired <a href="http://investors.bmrn.com/releasedetail.cfm?releaseid=928519">last August</a>. The drug is also being developed with a potential to treat cervical, lung, and ovarian cancers.</li>
<li>In a July conference call, <a href="http://www.businessinsider.com/medivation-talks-up-its-experimental-cancer-drug-2016-7">Medivation talked up the value of talazoparib</a>, saying it had the potential to be “best-in-class’ among so-called PARP inhibitors—a new type of medicine that blocks a particular enzyme that's used by our cells to <a href="http://www.facingourrisk.org/research-clinical-trials/research-findings/parp-inhibitors.php">repair DNA</a> so that tumors can't survive. In 2011, Pfizer sold off the&nbsp;<a href="http://www.genengnews.com/gen-news-highlights/pfizer-outlicenses-parp-inhibitor-cancer-drug-candidate-to-clovis-oncology/81245244/">rights to a PARP inhibitor drug to Clovis Oncology</a>. The field is competitive: In June, the biopharmaceutical company <a href="http://www.businessinsider.com/tesaro-soars-on-progress-in-ovrian-cancer-drug-trial-2016-6">Tesaro's stock doubled after a successful late-stage trial</a> for its PARP inhibitor.</li>
<li>The other drug that has Pfizer and Medivation excited is called pidilizumab, which is being developed to treat blood cancers. It’s also in a late-stage trial, and it’s part of a promising new class of cancer treatments called <a href="http://www.businessinsider.com/how-effective-are-immunotherapy-drugs-2016-8">immunotherapies</a>.</li>
<li>Medivation is also researching how Xtandi—currently approved for late-stage prostate cancer—works in people with other types of prostate, breast, and liver cancers.</li>
</ul>
<div>
See also:&nbsp;
<a href="http://www.businessinsider.com/how-pfizer-picks-its-cancer-drug-targets-2016-6">Here’s How Pharma Companies Figure Out Which Drugs to Bet on Years Before They’ll Ever Make Money</a>
</div>Mon, 22 Aug 2016 19:03:51 GMThttp://www.slate.com/blogs/business_insider/2016/08/22/why_pfizer_bid_14_billion_to_acquire_cancer_drugmaker_with_just_one_approved.htmlLydia Ramsey2016-08-22T19:03:51ZBusinessPfizer Just Paid Billions for the Company Behind the Outrageous $129,000 Cancer Drug235160822001pfizerpharmaceutical industrycancerLydia RamseyBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/22/why_pfizer_bid_14_billion_to_acquire_cancer_drugmaker_with_just_one_approved.htmlfalsefalsefalseWhy Pfizer bid $14 billion on a cancer drugmaker with just one FDA-approved drug:The drug, the only FDA-approved one the company makes, costs three times more in the United States.Photo by Spencer Platt/Getty ImagesThe Pfizer headquarters in New York City on October 29, 2015.Even Popeyes’ Sales Are Sagging Because of the Oil Downturnhttp://www.slate.com/blogs/business_insider/2016/08/18/oil_workers_are_cutting_spending_on_popeyes_chicken_tenders_and_biscuits.html
<p><em>This <a href="http://www.businessinsider.com/popeyes-sales-in-texas-slip-because-of-oil-crash-2016-8">post</a> originally appeared on&nbsp;<a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Popeyes’ chicken tenders and biscuits are also on the list of things oil workers are cutting spending on.</p>
<p>During the second-quarter earnings season, several companies that aren’t in the energy sector continued to mention declines in their businesses in oil-producing areas.</p>
<p>Harley Davidson saw a jump in the number of people in oil-heavy regions who were <a href="http://www.businessinsider.com/add-cheesecake-and-motorcycles-to-the-things-oil-workers-arent-buying-right-now-2016-7">defaulting on loan payments</a>. <a href="http://www.businessinsider.com/low-oil-is-affecting-companies-across-americas-2016-8/#eric-hession-cfo-of-caesars-entertainment-corporation-20">Caesars Entertainment</a> said a lot of weakness was in the southeastern US.</p>
<p>And like The Cheesecake Factory, Popeyes demonstrates that it’s not only consumer spending on big-ticket items that has fallen.</p>
<p>There was a bit of weakness in Louisiana and Texas locations, Popeyes CEO Cheryl Bachelder&nbsp;said&nbsp;during the <a href="https://alphastreet.co/app#/company/PLKI/transcript/72768#content">earnings call</a>.</p>
<p></p>
<p>“We have been monitoring very closely whether or not the change in oil prices will be affecting our stores that are in those regions, and only recently in the last six [or] nine months have there been a slight decline,” said William Matt, Popeyes’ chief financial officer.</p>
<p>The oil downturn, which started in June 2014, has eroded consumer confidence and employment in energy-rich regions. And that’s why several CEOs have mentioned this impact during their <a href="http://www.businessinsider.com/low-oil-is-affecting-companies-across-americas-2016-8">earnings calls</a>.</p>
<p>For the second quarter, Popeyes on Tuesday reported a 4 percent increase in revenue, to $61.7 million, though it was lower than analysts had estimated.</p>
<p>Domestic sales slowed to no growth from an 8 percent increase a year ago because of competition. International sales accelerated year-on-year.</p>
<p></p>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/add-cheesecake-and-motorcycles-to-the-things-oil-workers-arent-buying-right-now-2016-7">Harley-Davidson and The Cheesecake Factory reveal how bad the oil crash really is</a></p>Thu, 18 Aug 2016 18:23:02 GMThttp://www.slate.com/blogs/business_insider/2016/08/18/oil_workers_are_cutting_spending_on_popeyes_chicken_tenders_and_biscuits.htmlAkin Oyedele2016-08-18T18:23:02ZBusinessEven Popeyes’ Sales Are Sagging Because of the Oil Downturn235160818001oil industryAkin OyedeleBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/18/oil_workers_are_cutting_spending_on_popeyes_chicken_tenders_and_biscuits.htmlfalsefalsefalseEven Popeyes' sales are sagging because of the oil downturnIt might take more than spinach to help Popeyes.Photo by PAUL J. RICHARDS/AFP/Getty ImagesIt might take more than spinach to help Popeyes.Smartphone Maker Xiaomi, the “Apple of China,” Is Strugglinghttp://www.slate.com/blogs/business_insider/2016/08/17/xiaomi_s_quarterly_earnings_show_that_the_company_is_in_free_fall.html
<p><em>This <a href="http://www.businessinsider.com/xiaomi-china-smartphone-sales-plummet-q2-2016-idc-research-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>The “Apple of China” is in serious trouble.</p>
<p>Sales in China of smartphones from Xiaomi, a once red-hot Chinese hardware startup touted as the country’s answer to Apple, fell by a whopping 38 percent in the second quarter of 2016 year-on-year, <a href="http://www.idc.com/getdoc.jsp?containerId=prCHE41676816">according to new data from the research firm IDC</a>.</p>
<p>Xiaomi did not immediately respond to a request for comment.</p>
<p>Xiaomi’s phones are not yet available in Western markets, but the company has developed a buzzy reputation in the tech press.</p>
<p>The company launched in 2010, and it enjoyed meteoric growth: By the end of 2014 <a href="http://www.wsj.com/articles/xiaomi-becomes-worlds-most-valuable-tech-startup-1419843430">it was the world’s most valuable technology startup</a>, with a private valuation of more than $46 billion. (<a href="http://uk.businessinsider.com/most-valuable-startups-march-2016-2016-3?r=US&amp;IR=T">It has since been dethroned of that title by Uber</a>.)</p>
<p>Specialising in cheap, high-quality smartphones, it had grown off the back of an unusually passionate fan base, which it was careful to cultivate. It liberally borrowed from Apple’s playbook, including charismatic CEO keynote speeches. There is also a booming market in China for smartphones.</p>
<p>The company set an ambitious target for 2015: Sell 100 million smartphones. But by July, as sales began to slow, it started to become clear that it just wouldn’t happen.</p>
<p>It ultimately sold “over 70 million,” according to a company representative.</p>
<p><a href="http://fortune.com/2016/05/23/xiaomi-revenues-flat-2015/">Earlier this year, Fortune reported that Xiaomi’s revenue’s barely grew in 2015</a>. It pulled in 78 billion yuan, or $11.9 billion, for the year, up 5 percent on 74.3 billion yuan ($11.3 billion) in 2014 but well short of its 100-billion-yuan target for the year.</p>
<p><a href="http://www.idc.com/getdoc.jsp?containerId=prCHE41676816">The latest figures from IDC now suggest that Xiaomi isn’t just standing still</a>:&nbsp;It’s actually in free fall.</p>
<p>Xiaomi sold an estimated 10.5 million smartphones in China in the second quarter of this year, down from 17.1 million a year prior. That’s a drop of 38.4 percent.</p>
<p>At the same time, its rivals Oppo and Vivo have skyrocketed, enjoying year-on-year growth rates of <a href="http://static2.businessinsider.com/image/57b2dee8dd0895b46f8b4650-2042/screen_shot_2016-08-16_at_10_06_00.jpg">124.1 percent and 74.7 percent</a>.</p>
<p>(Also interesting: Apple is struggling in China as well, with shipments down 31.7 percent year-on-year—selling 8.6 million devices last quarter, compared to 12.6 million in Q2 of 2015.)</p>
<p>It’s worth noting that Xiaomi sells other products—as varied as water purifiers and hoverboards. But smartphones still make up the lion’s share of the company’s bottom line, with just 5 percent of its revenues in 2015 coming from other products, <a href="http://fortune.com/2016/05/23/xiaomi-revenues-flat-2015/">according to Fortune</a>.</p>
<p>So what’s behind Xiaomi's implosion? A slowing in growth, at least, was inevitable. In previous years the company was perfectly positioned to take advantage of the rapid growth in China’s smartphone market.&nbsp;This has now dropped off, though the Chinese market <em>is</em> still growing, 4.6 percent year-on-year in Q2.</p>
<p>IDC points to a failure of marketing as the cause.</p>
<p>Xiaomi previously spent very little on marketing <a href="http://www.businessinsider.com/xiaomi-vp-hugo-barra-at-mobile-world-congress-2015-2015-3">and was proud of it</a>, relying on word of mouth and user hype to spread word of its products. But this tactic is no longer viable as Vivo and Oppo are spending heavily, including using “brand ambassadors” to promote their smartphones. Without any concrete ways to differentiate its products, Xiaomi has been forced to follow suit.</p>
<p>“In the past, Xiaomi started the trend of selling its phones online and other vendors soon followed suit and created their own online brand. After vendors witnessed OPPO’s success with its R9, they also started riding on the trend of hiring celebrity endorsers to represent their brand and appeal more to the young crowd,” IDC analyst Xiaohan Tay said.</p>
<p>“Hiring celebrity endorsers may help increase numbers in the short term, but this alone may not be sufficient to drive numbers in the long run. As there is very little differentiation across products to warrant significant brand loyalty, vendors must constantly think out of the box to get people hyped up about their products.”</p>
<p>Xiaomi was once the head of the pack. Now it's playing catch-up—and losing.</p>
<p>See also: <a href="http://www.businessinsider.com/android-smartphone-different-uses-2016-8">5 wild uses for your old Android smartphone</a></p>Wed, 17 Aug 2016 18:04:56 GMThttp://www.slate.com/blogs/business_insider/2016/08/17/xiaomi_s_quarterly_earnings_show_that_the_company_is_in_free_fall.htmlRob Price2016-08-17T18:04:56ZBusinessSmartphone Maker Xiaomi, the “Apple of China,” Is Struggling235160817001chinaRob PriceBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/17/xiaomi_s_quarterly_earnings_show_that_the_company_is_in_free_fall.htmlfalsefalsefalseSmartphone maker Xiaomi, the “Apple of China,” is strugglingHow far will they fall?Photo by WANG ZHAO/AFP/Getty ImagesThose phones might just not be enough.McDonald’s Put a Cap on Free Food in the Olympic Village Because Athletes Ate Too Muchhttp://www.slate.com/blogs/business_insider/2016/08/16/mcdonalds_limits_athletes_free_food_to_20_items_at_a_time_in_olympic_village.html
<p><em>This <a href="http://www.businessinsider.com/mcdonalds-caps-free-food-at-olympic-village-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Olympic athletes are so obsessed with McDonald’s, the fast-food giant is limiting the amount of free food Olympians can order.</p>
<p>The McDonald’s location in the Olympic Village is free for athletes and coaches, reports <a href="https://www.washingtonpost.com/world/the_americas/olympic-athletes-are-gorging-themselves-on-free-mcdonalds/2016/08/12/25f0eb35-5a26-4bdb-8643-123855fb0430_story.html">the Washington Post.</a> But due to extreme demand from hungry Olympians, the Post says the location was forced to cap the number of items that a single person could order at 20.</p>
<p>While 20 items may seem like plenty of food, the Washington Post reports that some customers want even more. Athletes <em>can </em>order extra items, but if they do, their orders drop in priority, meaning they’ll have to wait longer for their food.</p>
<p>Still, the promise of free food is appealing enough to Olympians that they’re more than ready to wait in a line of 50-plus people for fries, Big Macs, and McMuffins. With few other options in the area, there is <a href="https://www.washingtonpost.com/world/the_americas/olympic-athletes-are-gorging-themselves-on-free-mcdonalds/2016/08/12/25f0eb35-5a26-4bdb-8643-123855fb0430_story.html">always a long line</a> outside the location, and athletes have proven they’re willing to wait.</p>
<p>Despite the fact that most Olympians are in peak physical condition, many have an intense love for McDonald’s.</p>
<p>Sawan Serasinghe, a member of the Australian badminton team, posted a picture on Sunday with what appears to be 22 McDonald’s items. “Now it’s time to eat some junk food after months of eating clean!” reads the caption.</p>
<p>“By the final few days when most sports are finished, [McDonald’s] can barely keep up as each athlete lines up to order 27 cheese burgers, 40 chicken McNuggets, 12 sundaes and a Diet Coke before collecting the food and walking away without needing to pay,” Australian Olympic swimmer Melanie Wright wrote in an article about the Olympic Village in <a href="http://www.couriermail.com.au/sport/olympics-2016/what-really-goes-on-in-the-olympic-village/news-story/8459649471e9de0de27ea5c6cd2f508f">The Courier Mail.</a></p>
<p>Other Olympians like&nbsp;American swimmer <a href="http://usatoday30.usatoday.com/SPORTS/usaedition/2012-07-27-726-Oly-Lochte-diet_ST_U.htm">Ryan Lochte</a> are&nbsp;known for their love of McDonald’s. Jamaican sprinter <a href="http://time.com/3912896/usain-bolt-chicken-mcnuggets-olympics/">Usain Bolt</a> reportedly ate 100 chicken nuggets every day at the 2008 Beijing Olympics.</p>
<p>While McDonald’s is spending thousands of dollars giving away the free food, the Olympics provide a major marketing opportunity.</p>
<p>The International Olympic Committee is enforcing extremely strict rules on which&nbsp;brands can <a href="http://www.businessinsider.com/the-most-important-stories-in-advertising-july-25-2016-7">post the high-profile official Olympic hashtags on social media</a>. As a long-time sponsor, McDonald’s is one of the few brands that can tweet&nbsp;using the&nbsp;#Rio2016 and #TeamUSA hashtags. That social media bonus—plus high-profile athletes posting about visiting&nbsp;the Olympics Village McDonald’s on Twitter, Facebook, and Snapchat—is worth much more to McDonald’s than the cost of providing 20 free Big Macs for 11,000 hungry Olympians.</p>
<p>See also: <a href="http://www.businessinsider.com/sports-are-helping-sales-at-papa-johns-2016-8">Sales at Papa John’s are soaring thanks to one particular type of partnership</a></p>Tue, 16 Aug 2016 18:48:55 GMThttp://www.slate.com/blogs/business_insider/2016/08/16/mcdonalds_limits_athletes_free_food_to_20_items_at_a_time_in_olympic_village.htmlKate Taylor2016-08-16T18:48:55ZBusinessMcDonald’s Put a Cap on Free Food in the Olympic Village Because Athletes Ate Too Much235160816001rio olympicsKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/16/mcdonalds_limits_athletes_free_food_to_20_items_at_a_time_in_olympic_village.htmlfalsefalsefalseMcDonald’s put a cap on free food in the Olympic Village because athletes ate too muchIf you finished competing, you'd want to binge on McDonald's too.Photo Illustration by Justin Sullivan/Getty ImagesMake that 18 more burgers please.&nbsp;Audi Is Basically Cool With You Using This New Feature to Send Texts at Red Lightshttp://www.slate.com/blogs/business_insider/2016/08/15/audi_traffic_light_dashboard_timer_helps_you_text.html
<p><em>This <a href="http://www.businessinsider.com/audi-traffic-light-countdown-timer-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Audi has figured out a way to make sitting in traffic a less white-knuckling experience.</p>
<p>The luxury car maker announced Monday it’s bringing a traffic light timer to its vehicle dashboards, and will start rolling it out in some major U.S. cities by the end of the year.</p>
<p>When you roll up to a red light in your Audi Q7, A4, or Allroad vehicle (manufactured after June 1 of this year), a ticker will appear in the display behind the steering wheel that counts down the seconds until the light will turn green. It disappears about three seconds before the light change, to discourage drivers from racing one another.</p>
<p>The feature will become available through the Audi Connect package, which starts at $25 a month and includes core safety, navigation, and infotainment services.</p>
<p>The German titan of connected cars is betting that a more informed driver is a happier one.</p>
<p>“If you just think about the number of intersections that you pass through, and you think about the accumulated anxiety, accumulated stress that happens because of these, it’s information <em>like this</em>,” says Pom Malhotra, general manager of connected vehicles for Audi, “that allows your mind to relax and basically, say, ‘All right. I have some time here. I can be doing other things instead of readying myself to jump on the accelerator.’”</p>
<p>At a press event in San Francisco late last week, Malhotra walked through some of the potential use cases of the feature. If a driver knows she has a minute to wait, she might turn around in her chair to check on her child, change the radio station, or even pull into the right lane to navigate around the traffic light. It’s a safe time to be distracted.</p>
<p>But what about texting? There are currently <a href="http://www.distraction.gov/stats-research-laws/state-laws.html">46 states</a> than ban messaging behind the wheel.</p>
<p>Malhotra put the same argument to use that a parent of a teenager might use if he wants his kid drinking beer at home, where it’s safe and supervised.</p>
<p>“By no means do we encourage use of smartphones behind the wheel, but if there’s a time to do it, it’s when you're stopped,’ Malhotra told the group.</p>
<p>Audi completed a one-year trial with about 100 cars equipped with the traffic light timer in Palo Alto, Las Vegas, and Washington, D.C. During this time, the company implemented certain safeguards such as hiding the countdown at a certain distance from the intersection, so drivers aren't encouraged to gun it to beat the light.</p>
<p>There are 300,000 traffic signals in the U.S.—some operated by local companies, others by government—and most are internet-connected. Audi is working with a third-party so vehicles will be able to beam the cloud for second-by-second phase information.</p>
<p>However, the roll-out will be slow as Audi must coordinate with each city individually to tap into its road infrastructure. It expects to release the feature in seven US cities before the end of the year, and make available to&nbsp;50 percent of Audi equipped vehicles by the end of 2017.</p>
<p>The introduction of the traffic light timer marks an incremental step in Audi’s path to the fully connected car. It’s a small, quirky perk for drivers that could unlock loads more features in the future, according to&nbsp;Malhotra.</p>
<p>In the future, the system that makes the traffic light timer work might talk to the navigation system to make predictions around where traffic clusters will form, re-route the driver, or give a recommended speed in order to hit a channel of green lights.</p>
<p>If that’s not bliss, we’re not sure what is.</p>
<p>See also: <a href="http://www.businessinsider.com/most-sushi-isnt-what-you-think-it-is-2016-8">Most Sushi in the U.S. Isn’t What You Think It Is and New Technology Could Help Fix That.</a></p>Mon, 15 Aug 2016 21:30:08 GMThttp://www.slate.com/blogs/business_insider/2016/08/15/audi_traffic_light_dashboard_timer_helps_you_text.htmlMelia Robinson2016-08-15T21:30:08ZBusinessAudi Is Basically Cool With You Using This New Feature to Send Texts at Red Lights235160815001automobilestextingdrivingMelia RobinsonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/15/audi_traffic_light_dashboard_timer_helps_you_text.htmlfalsefalsefalseAudi is basically cool with you using this new feature to send texts at red lightsThey say at least it's safer this way.Photo by Spencer Platt/Getty ImagesA driver uses a phone while behind the wheel of a car on April 30, 2016 in New York City.Some Rascal Masquerading as&nbsp;Wall Street’s Bud Fox&nbsp;Just Called in to a Corporate Earnings Meeting to Ask About Harambehttp://www.slate.com/blogs/business_insider/2016/08/12/rascal_impersonating_bud_fox_asks_ruby_tuesday_s_ceo_about_harambe.html
<p><em>This <a href="http://www.businessinsider.com/ruby-tuesday-conference-call-wall-street-harambe-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>We’ve seen some <a href="http://www.businessinsider.com/analyst-dedicates-mariah-carey-song-american-airlines-president-2015-10">crazy things on earnings calls</a> before, but this has to take the cake.</p>
<p>During Ruby Tuesday’s second-quarter earnings call, an unidentified caller posed as Bud Fox, Charlie Sheen’s character from the movie <em>Wall Street</em>, and asked CEO JJ Buettgen if the burger chain’s business had been affected by the death of Harambe.</p>
<p>Harambe was the gorilla living at the Cincinnati Zoo <a href="http://www.businessinsider.com/why-couldnt-they-have-sedated-the-gorilla-who-was-killed-after-a-4-year-old-entered-his-zoo-enclosure-2016-5">that was shot and killed</a> after a child fell into its habitat. The gorilla has since <a href="http://nymag.com/selectall/2016/07/harambe-forever.html">become a popular meme</a>.</p>
<p>The caller even said they worked for the Geneva Roth Holding Corporation, a fictional company from <em>Wall Street.</em></p>
<p>Here's the exchange (via Seeking Alpha's <a href="http://seekingalpha.com/article/3999038-ruby-tuesdays-rt-ceo-jj-buettgen-q4-2016-results-earnings-call-transcript?part=single">transcript of the call</a>):</p>
<blockquote>
<strong>Operator:</strong> “Our next question comes from Buddy Fox with Geneva Roth Holding Corporation.”
</blockquote>
<blockquote>
<strong>Buddy Fox:</strong> “I just have one question. Do you think your revenues are negatively impacted by Harambe’s death and if yes, do you have any plans to mitigate it?”
</blockquote>
<blockquote>
<strong>JJ Buettgen:</strong> “Excuse me, can you repeat your question please? Impacted by what?”
</blockquote>
<blockquote>
<strong>Fox:</strong> “By Harambe's death and if yes, do you have plans to mitigate it?”
</blockquote>
<blockquote>
<strong>Buettgen:</strong> “I am sorry. I don’t know we have a bad connection. I couldn’t quite hear the question.”
</blockquote>
<blockquote>
<strong>Operator:</strong> “He has lost ”
</blockquote>
<p>These calls are usually pretty dull affairs, where sell-side analysts from various banks and financial institutions ask questions regarding the company’s quarterly results and, occasionally, the macroeconomy.</p>
<p>Typically there is some sort of sign-up procedure to get onto these calls, but apparently Ruby Tuesday was unable to stop this prankster.</p>
<p>We’re not sure if the connection was actually lost or if the caller disconnected after they got their joke in, but either way, it makes for a bizarre exchange.</p>
<p>See also: <a href="http://www.businessinsider.com/defcon-24-2016-8">Here’s What Happens When 20,000 Hackers Invade Las Vegas for a Week of Hacking, Booze, and Debauchery</a></p>Fri, 12 Aug 2016 16:15:30 GMThttp://www.slate.com/blogs/business_insider/2016/08/12/rascal_impersonating_bud_fox_asks_ruby_tuesday_s_ceo_about_harambe.htmlBob Bryan2016-08-12T16:15:30ZBusinessSome Rascal Impersonating Charlie Sheen's
<em>Wall Street </em>Character Just Asked a CEO About Harambe235160812001charlie sheenBob BryanBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/12/rascal_impersonating_bud_fox_asks_ruby_tuesday_s_ceo_about_harambe.htmlfalsefalsefalseSomeone pretending to be Bud Fox from “Wall Street” asked a CEO about Harambe:Just...what?Photo by John Sommers II/Getty ImagesFlowers placed next to a picture of Harambe, a silverback gorilla killed after a boy fell into his enclosure, at the Cincinnati Zoo on June 2, 2016.SolarCity Is Planning to Sell Solar Roofshttp://www.slate.com/blogs/business_insider/2016/08/10/tesla_is_entering_the_roofing_business_sort_of.html
<p><em>This <a href="http://www.businessinsider.com/elon-musk-says-solarcity-will-make-solar-roofs-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Tesla is getting into the roofing business. Well, sort of.</p>
<p>CEO Elon Musk joined&nbsp;SolarCity’s second quarter earnings conference call on Tuesday. Musk is chairman of SolarCity, but Tesla is also in the process of buying the company in a <a href="http://www.businessinsider.com/elon-musk-answers-tesla-solarcity-merger-question-2016-8">deal worth $2.6 billion.</a></p>
<p>During the call, SolarCity’s CEO Lyndon Rive, who is also Musk’s cousin, said that SolarCity has plans to reveal two new products by the end of the year. Musk, though, elaborated and said that at least one of those new products is a solar roof.</p>
<p>“It’s a solar roof, as opposed to modules on a roof,” Musk said.</p>
<p>Rive confirmed that the company was indeed going to roll out a roofing integrated product.</p>
<p>“I think this is really a fundamental part of achieving differentiated product strategy, where you have a beautiful roof. It’s not a thing on the roof. It is the roof, which is a quite difficult engineering challenge and not something that is available anywhere else,” Musk said.</p>
<p>Rive added that there are about five million new roofs installed every year just in the U.S., and that the new product will be focused on the new roof market.</p>
<p>Musk said that it also won’t cannibalize the existing SolarCity product because if a person’s current roof is nearing replacement, a person wouldn’t put modules on it. However, if they are in the market for a new roof, they could opt to get an updated roof that has solar capabilities built right in.</p>
<p>“So there huge market that is sort of inaccessible to SolarCity because people know they are going to have to replace the roof and you don’t want to put solar panels on a roof you know you are going to replace,” Musk said. “However, if your roof is nearing end of life and you have to get a new roof anyway...so why not have a solar roof that is better in many other ways as well.”</p>
<p>Musk likened the new product to a Tesla car. He said the customer will be given custom preferences and then sent to the customer as a kit so that it can be installed.</p>
<p>The timing of the product release is interesting, considering the merger between the two companies is expected to be complete by the end of the fourth quarter.</p>
<p>Musk has not been shy about his plans to venture into solar energy.</p>
<p>In July, he published Tesla’s “<a href="https://www.tesla.com/blog/master-plan-part-deux">Master Plan Part Deux</a>” and said that the merger of the two companies would “create a smoothly integrated and beautiful solar-roof-with-battery product that just works, empowering the individual as their own utility, and then scale that throughout the world. One ordering experience, one installation, one service contact, one phone app.”</p>
<p>See also: <a href="http://www.businessinsider.com/tesla-charge-2016-8">These are all the ways you can recharge a Tesla</a></p>Wed, 10 Aug 2016 17:08:43 GMThttp://www.slate.com/blogs/business_insider/2016/08/10/tesla_is_entering_the_roofing_business_sort_of.htmlCadie Thompson2016-08-10T17:08:43ZBusinessSolarCity Is Getting Into the Roofing Business235160810001teslaCadie ThompsonBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/10/tesla_is_entering_the_roofing_business_sort_of.htmlfalsefalsefalseTesla is entering the roofing business. Sort of.Cool.Photo by John Moore/Getty ImagesMusk might be remodeling your roof soon.Japanese Messaging App Line Is Now Beating Facebook in Its Home Countryhttp://www.slate.com/blogs/business_insider/2016/08/09/line_app_is_beating_facebook_in_japan.html
<p><em>This <a href="http://www.businessinsider.com/line-app-beating-facebook-in-revenue-and-users-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Messaging <a href="http://www.businessinsider.com/the-messaging-app-report-2015-11">is already huge</a>. And Line is perfectly positioned to ride the trend to untold riches. The app—which has more than <a href="http://www.businessinsider.com/line-shares-surge-30-in-market-debut-2016-7">200 million monthly active users globall</a>—has four to five times the number of monthly active users as Facebook in Japan and is similarly popular in Taiwan, Thailand, and Indonesia.</p>
<p>David Gibson, an analyst at Macquarie Research, thinks the company’s stock price will shoot up 32 percent higher on the Japanese markets. The main attraction isn’t even the crazy popular messaging app, but rather it’s the ad platform behind it.</p>
<p>“Our report is differentiated from others in the market because we met with six major ad agencies to understand their attitude to the LINE Ad Platform,” Gibson said in a note to clients.</p>
<p>The biggest markets for mobile ads in Japan are Facebook, Twitter, and Yahoo Japan. These markets are great but are not expanding, meaning prices are rising as more demand meets a stagnant supply.</p>
<p>Line offers advertisements that are a lot cheaper than those of competitors like Facebook and that can reach all 90 million smartphone users in Japan.</p>
<p>“We expect the ad inventory of Line ad platform can drive &yen;46 billion in incremental ad sales in FY12/17 and &yen;70 billion in FY12/18,” Gibson said. That may be a conservative estimate, as Yahoo Japan brought in 110 billion yen, or $1.08 billion, in mobile ad sales last year, according to the note.</p>
<p>Line <a href="http://www.businessinsider.com/line-is-on-track-for-biggest-tech-ipo-of-2016-2016-7">launched its initial public offering</a> earlier this year and raised more than $1 billion. The app brought in about $1 billion in revenue in 2015, mostly with stickers, games, and ads, which other apps like Twitter have been struggling to use as effectively. Users on average spend $4.98 in the Line app.</p>
<p>The company has seen its share price fall 17 percent from its <a href="http://quote.jpx.co.jp/jpx/template/quote.cgi?F=tmp%2Fe_stock_detail&amp;QCODE=3938&amp;MKTN=T&amp;cht=21&amp;mode=D&amp;refFlg=up">initial price of 4,900 yen</a> on Japanese markets and decline 4 percent from its first day closing price of $41.58 on the New York Stock Exchange.</p>
<p>See also: <a href="http://www.businessinsider.com/facebook-snapchat-will-not-be-disapearing-anytime-soon-2016-7">One of Facebook's biggest threats won't be disappearing anytime soon</a></p>Tue, 09 Aug 2016 16:22:26 GMThttp://www.slate.com/blogs/business_insider/2016/08/09/line_app_is_beating_facebook_in_japan.htmlSeth Archer2016-08-09T16:22:26ZBusinessJapanese Messaging App Line Is Now Beating Facebook in Its Home Country235160809001Seth ArcherBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/09/line_app_is_beating_facebook_in_japan.htmlfalsefalsefalseJapanese messaging app Line is now beating Facebook in its home countryYou might be sharing this on Facebook now, but Line might be your future.Photo by Toru Yamanaka/AFP/Getty ImagesTakeshi Idezawa, president of LINE Corporation, speaks during a press conference in Tokyo on July 27, 2016.&nbsp;Why Nike Is Giving Up on Making Golf Equipmenthttp://www.slate.com/blogs/business_insider/2016/08/05/nike_ending_golf_equipment_line_thanks_to_disinterest_of_millennials.html
<p><em>This <a href="http://www.businessinsider.com/nike-ends-golf-equipment-business-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Nike is ending its golf-equipment business, as the sport fails to connect with millennials.</p>
<p>On Wednesday, the athletic-apparel brand announced that it will transition out of selling golf clubs, balls, and bags. The company will, however, continue to sell golf footwear and apparel.</p>
<p>The news comes after a <a href="http://www.businessinsider.com/nikes-golf-dry-spell-helps-under-armour-2016-8">rough patch for Nike golfers,</a> as well as a decline in interest in the golf industry as a whole.</p>
<p>“From the golf industry statistics, we know that rounds are down. We know that millennials are not picking up the game, and boomers are aging out. The game is in decline,” Matt Powell of industry-research firm NPD<a href="http://www.businessinsider.com/millennials-are-hurting-the-golf-industry-2016-7">explained in a video in July.</a></p>
<p>Nike built its modern golf business on Tiger Woods’ success, signing the young superstar <a href="http://www.oregonlive.com/playbooks-profits/index.ssf/2013/01/nike_golfs_roots_trace_to_1984.html">in 1996,</a> when he was just 20. Woods’ Nike shirts became iconic, eventually spawning <a href="http://store.nike.com/us/en_us/pw/mens-tiger-woods-golf/7puZcg8Zaha?ipp=72">Nike’s Tiger Woods apparel collection.</a></p>
<p>More recently, Michelle Wie and&nbsp;Rory McIlroy have become some of the most recognizable faces&nbsp;of Nike golf.</p>
<p>“Athletes like Tiger, Rory and Michelle drive tremendous energy for the game and inspire consumers worldwide,” Daric Ashford, president of Nike Golf, said in a statement that emphasized Nike’s innovation on its apparel business.</p>
<p>Meanwhile, Nike rival&nbsp;Under Armour is <a href="http://www.businessinsider.com/under-armour-is-unveiling-new-technology">increasingly competing</a> for Nike’s customers and moving into the golf-apparel business.</p>
<p>The rising sports-apparel and footwear company <a href="http://www.businessinsider.com/how-under-armour-plans-to-do-something-nike-failed-to-do-conquer-the-golf-world-2016-3">introduced its&nbsp;first line of golf shoes in March,</a>part of a more subtle strategy for entering the golf business than Nike’s flashy, superstar-centric approach that, ultimately, failed to win over&nbsp;many golfers shopping for&nbsp;gear.</p>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/sprite-faces-backlash-for-sexist-campaign-2016-8">People Are Threatening to Boycott Coca-Cola After Sprite’s ‘Sexist’ and ‘Degrading’ Ad Campaign</a></p>Fri, 05 Aug 2016 18:45:59 GMThttp://www.slate.com/blogs/business_insider/2016/08/05/nike_ending_golf_equipment_line_thanks_to_disinterest_of_millennials.htmlKate Taylor2016-08-05T18:45:59ZBusinessWhy Nike Is Giving Up on Making Golf Equipment235160805001golfmillennialsKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/05/nike_ending_golf_equipment_line_thanks_to_disinterest_of_millennials.htmlfalsefalsefalseWhy Nike is giving up on making golf equipmentIt's because millennials don't play golf.Photo by S. Levin/Getty ImagesMichelle Wie reacts to the decline of the golf industry at the Kraft Nabisco Championship in Rancho Mirage, California April 2, 2006.SeaWorld Is Trying to Give Its Inhumane Image a Makeover. It’s Not Working.http://www.slate.com/blogs/business_insider/2016/08/04/seaworld_attendance_has_taken_a_big_hit.html
<p><em>This <a href="http://www.businessinsider.com/seaworld-earnings-attendance-drop-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>SeaWorld Entertainment reported dismal attendance numbers for the first half of 2016, and the stock is nose-diving.</p>
<p>SeaWorld <a href="http://www.seaworldinvestors.com/news-releases/news-release-details/2016/SeaWorld-Entertainment-Inc-Reports-First-Half-2016-Results/default.aspx">reported earnings</a> right in line with analyst expectations at $0.21 per share. However, it missed on revenue with a reported $371.1 million for the second quarter against analyst expectations of $375.1 million.</p>
<p>Additionally, the company lowered its guidance for profits this year, projecting EBITDA of $310 million to $340 million, lower than its previous projection of $335 million to $365 million.</p>
<p>The biggest factor, however, is attendance. Attendance at the company’s parks has been on the decline for some time after the documentary <em>Blackfish</em> took aim at SeaWorld’s controversial treatment of its famous orcas. This inspired <a href="http://www.businessinsider.com/seaworlds-brand-damaged-online-by-harry-styles-2015-8">backlash against the parks</a> and contributed to the drop in attendance.</p>
<p>Attendance for the second quarter was down by 494,000 guests compared with the same quarter in 2015, a 7.6 percent drop.</p>
<p>The company had been heavily investing in a positive public relations campaign to turn around attendance and has even announced it <a href="http://www.businessinsider.com/seaworld-ending-killer-whales-ownership-2016-3">will phase out its</a> ownership of orcas and <a href="http://www.businessinsider.com/seaworld-to-phase-out-killer-whale-shows-in-san-diego-2015-11">theatrical shows featuring the whales</a>, its main attraction, because of animal welfare concerns.</p>
<p>CEO Joel Manby tried to explain the drop in <a href="http://www.seaworldinvestors.com/news-releases/news-release-details/2016/SeaWorld-Entertainment-Inc-Reports-First-Half-2016-Results/default.aspx">a release accompanying earnings</a>:</p>
<blockquote>
While implementation of our plan through the first half of 2016 is delivering early indications of progress outside of Florida, second quarter overall was below expectations we shared in May, primarily due to an accelerated decline in Latin American guests at our Florida park locations, an overall downturn in the Orlando market in the latter half of June, and the impact of Tropical Storm Colin. Latin American attendance is down approximately 40 percent, or 235,000 guests, year-to-date.
</blockquote>
<p>The release did not offer an explanation why Latin American attendance had dropped so significantly.</p>
<p>Following the news, SeaWorld's stock fell 13.75 percent, down $2.04, to $12.80 a share, as of 10:03 a.m. ET. The stock is now down over 50 percent over the past two years.</p>
<p>See also: <a href="http://www.businessinsider.com/sturm-ruger-on-the-nra-hillary-clinton-and-election-2016-8">One of America’s biggest gunmakers spent its earnings call bashing Hillary Clinton and said it plans to donate millions to the NRA</a></p>Thu, 04 Aug 2016 19:58:22 GMThttp://www.slate.com/blogs/business_insider/2016/08/04/seaworld_attendance_has_taken_a_big_hit.htmlBob Bryan2016-08-04T19:58:22ZBusinessSeaWorld Is Trying to Give Its Inhumane Image a Makeover. It’s Not Working.235160804001Bob BryanBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/04/seaworld_attendance_has_taken_a_big_hit.htmlfalsefalsefalseSeaWorld is trying to give its inhumane image a makeover. It’s not working.Surprise.1519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t435083499600146151607780011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t435083499600146151607780011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t435083499600146151607780011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t435083499600146151607780011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t435083499600146151607780011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t435083499600146151607780011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t43508349960014615160778001Photo by Matt Stroshane/Getty ImagesSeaWorld is sinking.&nbsp;Starbucks Is Recalling 2.5 Million Stainless Steel Drinking Strawshttp://www.slate.com/blogs/business_insider/2016/08/03/starbucks_recalls_child_injuring_straws_in_venti_sized_mea_culpa.html
<p>On Tuesday, Starbucks issued a recall on its stainless steel beverage straws, after reports of mouth injuries. </p>
<p>The recall includes reusable stainless steel, Cold-to-Go drinking straws for both Grande and Venti sizes. </p>
<p>“Starbucks has received three reports in the U.S. and one in Canada of mouth lacerations to young children while drinking,” the company said in its recall announcement. “Consumers should not allow children to handle or use the stainless steel straws.”</p>
<p>The straw and items&nbsp;featuring the straw have been pulled from Starbucks’ online store. The coffee giant sold about&nbsp;2.5 million units of the straws in the U.S., and an additional 301,000 in Canada.</p>Wed, 03 Aug 2016 17:43:35 GMThttp://www.slate.com/blogs/business_insider/2016/08/03/starbucks_recalls_child_injuring_straws_in_venti_sized_mea_culpa.htmlKate Taylor2016-08-03T17:43:35ZBusinessStarbucks Is Recalling 2.5 Million Stainless Steel Drinking Straws235160803001starbucksKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/03/starbucks_recalls_child_injuring_straws_in_venti_sized_mea_culpa.htmlfalsefalsefalseStarbucks is recalling 2.5 million stainless steel drinking strawsA Venti-sized mea culpa.Photo by LEON NEAL/AFP/Getty ImagesA Starbucks shop in Dublin, Ireland, on February 25, 2016.A McDonald’s in Wales Is Piloting a Drive-Thru for Pedestrianshttp://www.slate.com/blogs/business_insider/2016/08/01/mcdonalds_rolls_out_new_late_night_walk_thru_lane.html
<p><em>This <a href="http://www.businessinsider.com/mcdonalds-is-testing-a-walk-thru-2016-8">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>McDonald’s is testing a drive-thru for customers without cars.</p>
<p>A McDonald’s in&nbsp;Llandudno, North Wales recently opened a drive-thru lane for pedestrian customers, reports the&nbsp;<a href="https://www.thesun.co.uk/news/1507174/mcdonalds-trials-a-walk-thru-for-weekend-party-animals/"><em>Sun</em>.</a> The test was reportedly an immediate success, leading to the restaurant making the walk-thru lane a permanent fixture.</p>
<p>However, there is one major catch: The walk-thru&nbsp;is only open between the hours of 2:30 a.m. and 4 a.m.</p>
<p>The walk-thru lane was debuted to serve&nbsp;customers leaving&nbsp;a nearby nightclub, and, as a result, is only available to customers willing to stay out until at least 2:30 in the morning. While the&nbsp;Llandudno McDonald's main restaurant&nbsp;closes at midnight, the location's drive-thru has a 24-hour license. Basically, the&nbsp;walk-thru provides a solution to the problem&nbsp;of how to serve car-less&nbsp;customers craving McDonald's after an evening of clubbing, even when sit-down service had wrapped up in Llandudno for the day. </p>
<p>This new service makes Llandudno one of a handful of McDonald's with a pedestrian walk-up option, including a&nbsp;location in <a href="http://www.teenvogue.com/story/mcdonalds-walk-thru">Savannah, Georgia.</a></p>
<p>However, it doesn’t seem likely that McDonald's will expand the test at other locations around the world, unless there there is a proven local demand.</p>
<p>In fact, the Llandudno McDonald's seemed surprised by the success of the walk-thru.</p>
<p>“Wow—the news of our walk thru is getting big,” the restaurant&nbsp;wrote on its <a href="https://www.facebook.com/mcdsllandudno/posts">Facebook page</a>&nbsp;last week, posting the <em>Sun</em>’s&nbsp;article reporting on the news.</p>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/where-americans-spending-oil-crash-savings-2016-8">Here’s Where Americans Are Spending All the Money They’ve Saved on Cheap Gas</a>.</p>Mon, 01 Aug 2016 18:38:10 GMThttp://www.slate.com/blogs/business_insider/2016/08/01/mcdonalds_rolls_out_new_late_night_walk_thru_lane.htmlKate Taylor2016-08-01T18:38:10ZBusinessA McDonald’s in Wales Is Piloting a Drive-Thru for Pedestrians235160801001mcdonald'sKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/08/01/mcdonalds_rolls_out_new_late_night_walk_thru_lane.htmlfalsefalsefalseA McDonald’s in Wales is piloting a drive-thru for pedestriansAn answer to your late-night, carless fast food cravings.Photo by Chris McGrath/Getty ImagesA man exits a McDonald's restaurant in Meguro on January 7, 2015 in Tokyo, Japan.Yahoo Is Being Sold, but It’s Hiring Like Crazy. Huh?http://www.slate.com/blogs/business_insider/2016/07/29/yahoo_hiring_frenzy_after_being_sold.html
<p><em>This <a href="http://www.businessinsider.com/yahoo-hiring-spree-after-verizon-deal-2016-7?utm_content=10ThingsSAI&amp;utm_medium=email&amp;utm_source=Sailthru&amp;nr_email_referer=1&amp;utm_campaign=Post%20Blast%20%28sai%29:%2010%20things%20in%20tech%20you%20need%20to%20know%20today&amp;utm_term=10%20Things%20In%20Tech%20You%20Need%20To%20Know?r=UK&amp;IR=T">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>July 18 was a big day at Yahoo: It announced its second-quarter earnings and took the final bids for the auction of its core business, which <a href="http://www.businessinsider.com/verizon-acquires-yahoo-2016-7">eventually sold to Verizon</a>.</p>
<p>But it appears that day marked the start of a new trend at Yahoo as well—a massive hiring spree.</p>
<p>According to <a href="https://tas-yahoo.taleo.net/careersection/yahoo_us_cs/jobsearch.ftl?lang=en&amp;yloc=us&amp;portal=40140430910#">Yahoo's U.S. careers page</a>, the company posted 76 new job openings on July 18. Two days later, it posted a whopping 151 new job openings.</p>
<p>And this week, after announcing its sale to Verizon on Monday, Yahoo has posted 23 openings&nbsp;on July 25, 16 on July 26, and 19&nbsp;on July 27.</p>
<p>That’s a big increase from the previous two months, during which there wasn’t a day when Yahoo’s careers page posted a double-digit number of U.S. job openings.</p>
<p>It's unclear what’s driving this change, but it’s a strange development given that Yahoo's going through a 15 percent workforce reduction plan and a massive reorganization as a result of its sale to Verizon.</p>
<p>Most of the jobs are located in Yahoo’s Sunnyvale, California, headquarters with a heavy focus on engineering. A lot of the jobs require experience in mobile and ad technology—the two areas Yahoo's been investing in more heavily.</p>
<p>The sudden uptick in the number of new jobs could be interpreted in a lot of ways.</p>
<p>It could be a sign of high turnover and Yahoo filling those empty positions. It could also be a result of Yahoo replacing less productive jobs with newly created positions focused on its higher growth areas. Maybe it's just a sign of Yahoo pushing forward with some of its previous plans. Or it could simply be a backlog of job openings being pushed out after a predetermined date.</p>
<p>Still, it’s curious that this happened right after closing the auction for its core business, and at a time when investors are calling for cost reductions across the company. And one has to wonder how much success Yahoo will have filling the jobs at a time of such uncertainty about the company's future.</p>
<p>Yahoo's spokesperson sent the following statement in response to this story:</p>
<blockquote>
Yahoo is hiring to the company’s strategic plan we laid out in February, and our People team uses a clustered hiring approach and a functional recruiting model. Of the 100 new Yahoos who have joined in the last two weeks, nearly one-fifth of them are boomerangs, and every one is excited to start work accelerating and amplifying Yahoo’s efforts.
</blockquote>
<p>See also:&nbsp;<a href="http://www.businessinsider.com/budweisers-america-campaign-flops-2016-7">Budweiser’s Controversial Last Hope to Capture Millennials Was a Huge Flop</a></p>Fri, 29 Jul 2016 15:26:42 GMThttp://www.slate.com/blogs/business_insider/2016/07/29/yahoo_hiring_frenzy_after_being_sold.htmlEugene Kim2016-07-29T15:26:42ZBusinessYahoo Is Being Sold, but It’s Hiring Like Crazy. Huh?235160729001yahooEugene KimBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/07/29/yahoo_hiring_frenzy_after_being_sold.htmlfalsefalsefalseYahoo is being sold, but it’s hiring like crazy. Huh?Please send a resume and cover letter.Photo by Justin Sullivan/Getty ImagesA sign in front of the Yahoo! headquarters on May 23, 2014 in Sunnyvale, CaliforniaWhy Sports Authority’s Bankruptcy Has the Rest of the Retail Industry Feeling Spookedhttp://www.slate.com/blogs/business_insider/2016/07/28/sports_authority_s_bankruptcy_has_the_retail_market_feeling_spooked.html
<p><em>This <a href="http://www.businessinsider.com/sports-authoritys-bankruptcy-has-caused-negative-effects-in-retail-2016-7">post</a>&nbsp;originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Sports Authority’s <a href="http://www.businessinsider.com/ap-sports-authority-files-for-chapter-11-bankruptcy-protection-2016-3">bankruptcy</a>&nbsp;and total <a href="http://www.businessinsider.com/sports-authority-stores-closing-2016-5">liquidation</a>&nbsp;means more than just the end of an iconic sporting goods dealer.</p>
<p>It could spell&nbsp;trouble for retailers.</p>
<p><a href="http://www.bloomberg.com/news/articles/2016-07-28/sports-authority-s-demise-shakes-faith-in-consignment-deals">Bloomberg</a>&nbsp;reports that Sports Authority’s collapse has made retailers concerned&nbsp;about the way they have been operating.</p>
<p>“You could make the argument that given the state of retail, everyone’s going to be analyzing—whether or not it’s retailers or lenders—what makes the most sense and, in particular, vendors,” &nbsp;Mike Murray, senior managing director at Wells Fargo &amp; Co, said to Bloomberg.</p>
<p>The consignment business model is one area that retailers are concerned about, as Bloomberg notes that Sports Authority explained in court documents that the business had $85 million worth of consigned items in stores at the beginning of its bankruptcy.</p>
<p>This puts companies in a sticky situation, Bloomberg reports: does the retailer&nbsp;or do the vendors own the goods that are being sold off?</p>
<p>Sports Authority’s downfall has been a burden for top-tier brands, such as&nbsp;Under Armour,&nbsp;which UBS analysts noted had “bloated post holiday ’15 inventories.”</p>
<p>Ironically, <a href="http://www.businessinsider.com/sports-authority-declares-bankruptcy-2016-3">one of the things&nbsp;that plagued&nbsp;Sports Authority</a>—a lack of a real shopping experience—is something that Nike, with its high-tech personalization and run clubs, and Under Armour, which plans <a href="http://www.businessinsider.com/under-armour-taking-over-fao-schwartz-2016-7">on opening a store</a>&nbsp;that fuses experiences with traditional shopping in FAO Schwarz’ former Manhattan home, thrive upon.</p>
<p>Sports Authority’s downfall comes at a time that other once-dominant retailers failed. It came several months after <a href="http://www.businessinsider.com/ap-bummer-...-quiksilver-files-for-chapter-11-bankruptcy-in-us-2015-9">Quiksilver</a>&nbsp;and <a href="http://www.businessinsider.com/r-american-apparel-files-for-bankruptcy-2015-10">American Apparel</a>&nbsp;filed for Chapter 11 bankruptcy. This spring, former teen stalwarts <a href="http://www.businessinsider.com/aeropostale-is-still-losing-favor-with-teens-2016-5">Aeropostale</a>&nbsp;and <a href="http://www.businessinsider.com/pacsuns-downfall-2016-4">PacSun</a>&nbsp;filed for bankruptcy.</p>
<p>See also: <a href="http://www.businessinsider.com/teen-retailers-are-filing-for-bankruptcy-2016-5">Teen retail as we know it is dying</a></p>Thu, 28 Jul 2016 16:27:32 GMThttp://www.slate.com/blogs/business_insider/2016/07/28/sports_authority_s_bankruptcy_has_the_retail_market_feeling_spooked.htmlMallory Schlossberg2016-07-28T16:27:32ZBusinessWhy Sports Authority’s Bankruptcy Has the Rest of the Retail Industry Feeling Spooked235160728001Mallory SchlossbergBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/07/28/sports_authority_s_bankruptcy_has_the_retail_market_feeling_spooked.htmlfalsefalsefalseWhy Sports Authority’s bankruptcy has the rest of the retail industry feeling spookedSports Authority is in trouble.Photo by Joe Raedle/Getty ImagesTrouble in their market? Or &nbsp;<em>the &nbsp;</em>market?Nintendo’s Stock Plummeted After It Said&nbsp;Pok&eacute;mon&nbsp;Go&nbsp;Would Have a Limited Effect on Its Businesshttp://www.slate.com/blogs/business_insider/2016/07/25/pokemon_go_is_now_hurting_nintendo_stock.html
<p><em>This <a href="http://www.businessinsider.com/nintendo-shares-fall-after-issuing-profit-warning-2016-7">post</a> originally appeared in <a href="http://www.businessinsider.com.au/?_ga=1.100765320.880225564.1467182290">Business Insider Australia</a>.</em></p>
<p>Shares in Nintendo, which owns 32 percent of the global phenomenon <em>Pok&eacute;mon Go</em>, have tanked in trade on the Nikkei.</p>
<p>The stock closed down by more than 17 percent on Monday, following <a href="https://www.nintendo.co.jp/ir/pdf/2016/160722.pdf">a statement from the company late Friday</a>&nbsp;that the financial impact of the smartphone game would be “limited.”</p>
<p>Nintendo said the earnings from <em>Pok&eacute;mon Go</em> were already factored in when the company released its annual forecasts in April.</p>
<p>A week ago, Nintendo shares had almost doubled to $42 billion since the game was released July 6, first in Australia and then worldwide.</p>
<p>But the shares started to slide Wednesday as analysts questioned whether the earnings potential matched the market capitalization.</p>
<p>They started to pick up again Friday when <a href="http://www.businessinsider.com.au/pokemon-go-has-finally-launched-in-japan-2016-7"><em>Pok&eacute;mon Go</em> finally launched in Japan</a>, the country of its birth, but started sliding again Monday when the Japanese market opened.</p>
<p><a href="http://www.bloomberg.com/news/articles/2016-07-25/nintendo-set-to-plunge-after-saying-pokemon-go-s-impact-limited">Nintendo is due to post earnings for the first quarter on Wednesday</a>. The company is forecasting full-year profit of 35 billion yen (440 million Australian dollars, $320 million), more than double last year’s 16.5 billion yen (210 million Australian dollars).</p>
<p>See also: <a href="http://www.businessinsider.com/the-source-code-for-vine-was-accidentally-made-public-2016-7">The Source Code for Vine Was Accidentally Made Public</a></p>Mon, 25 Jul 2016 16:39:48 GMThttp://www.slate.com/blogs/business_insider/2016/07/25/pokemon_go_is_now_hurting_nintendo_stock.htmlChris Pash2016-07-25T16:39:48ZBusinessNintendo’s Stock Plummeted After It Said&nbsp;
<em>Pok&eacute;mon&nbsp;Go</em>&nbsp;Would Have a Limited Effect on Its Business235160725001pokemonnintendoChris PashBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/07/25/pokemon_go_is_now_hurting_nintendo_stock.htmlfalsefalsefalsePokemon Go is now hurting Nintendo’s stock.Can't catch 'em all!Photo by Brendon Thorne/Getty ImagesA user plays <em>Pok&eacute;mon Go</em> on July 20, 2016 in Sydney, AustraliaWatch a State Department Spokesman Catch a Reporter Playing Pok&eacute;mon Go in a Press Conferencehttp://www.slate.com/blogs/business_insider/2016/07/22/state_department_s_spokesman_catches_reporter_pokemon_go_press_conference.html
<p><em>This <a href="http://www.businessinsider.com/reporter-playing-pokemon-go-during-press-briefing-2016-7">post</a> originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>On Thursday a&nbsp;U.S. State Department press briefing was interrupted when&nbsp;spokesman John Kirby stopped to ask a reporter if he was playing <em>Pok&eacute;mon Go</em>.</p>
<p>Kirby stopped mid-sentence to say, “You’re playing the Pok&eacute;mon thing right there, aren't you?”</p>
<p>Here's the exchange via the State Department <a href="http://www.state.gov/r/pa/prs/dpb/2016/07/260371.htm">transcript</a>:</p>
<blockquote>
<strong>Kirby:</strong>&nbsp;&nbsp;... As the amount of anti-ISIL content continues to eclipse pro-ISIL content online, the working group renewed its commitment to launching innovative international campaigns and expanding regional and global networks and accelerating global efforts to confront them in the information space.
</blockquote>
<blockquote>
As the Secretary said earlier today, though, and I think it’s an important reminder—
<strong><em>you’re playing the Pok&eacute;mon thing right there, aren’t you?</em></strong>
</blockquote>
<blockquote>
<strong>Reporter:</strong>&nbsp;I’m just keeping an eye on it.
</blockquote>
<blockquote>
<strong>Kirby:</strong>&nbsp;It’s an important reminder – we know this won't be easy. We recognize it’s a challenge, and we’re clear-eyed about the work we still have to do. This is why we convened this important ministerial and will continue to work with our coalition partners to defeat Daesh—
<strong><em>d</em></strong>
<em><strong>id you get one?</strong></em>
</blockquote>
<blockquote>
<strong>Reporter:</strong>&nbsp;No. The signal is not very good.
</blockquote>
<blockquote>
<strong>Kirby:</strong>&nbsp;Sorry about that.
</blockquote>
<p>Here’s the full video of the press briefing:</p>
<p>See also: <a href="http://www.businessinsider.com/dark-matter-primordial-black-holes-2016-7">Most of the Universe May Be Trapped Inside of Ancient Black Holes</a></p>Fri, 22 Jul 2016 17:11:37 GMThttp://www.slate.com/blogs/business_insider/2016/07/22/state_department_s_spokesman_catches_reporter_pokemon_go_press_conference.htmlAmanda Macias2016-07-22T17:11:37ZBusinessWatch a State Department Spokesman Catch a Reporter Playing
<em>Pok&eacute;mon Go</em>&nbsp;in a Press Conference235160722001pokemonstate departmentAmanda MaciasBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/07/22/state_department_s_spokesman_catches_reporter_pokemon_go_press_conference.htmlfalsefalsefalseThe State Department's spokesman caught a reporter playing Pokémon GoBut did he catch them all?1519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t504648345400149677564160011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t504648345400149677564160011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t504648345400149677564160011519028539001AQ~~,AAAAAASoY90~,_gW1ZHvKG_2pKN0AJTySft1Irx-gT62t50464834540014967756416001Photo by YOSHIKAZU TSUNO/AFP/Getty ImagesBane of reporters’ attention spans.The Google Lab Whose A.I. Beat the World’s Go Champion Has a New Job: HVAChttp://www.slate.com/blogs/business_insider/2016/07/21/google_just_found_a_use_for_its_deepmind_acquisition.html
<p><em>This <a href="http://www.businessinsider.com/googles-400-million-acquisition-of-deepmind-is-looking-good-2016-7">post</a>&nbsp;originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Google forked out <a href="https://www.theguardian.com/technology/2014/jan/27/google-acquires-uk-artificial-intelligence-startup-deepmind">over $500 million for a little-known London startup called DeepMind in 2014</a>&nbsp;without specifying how the company’s artificial-intelligence technology would be used to increase Google’s revenues, which already run into tens of billions of dollars every year.</p>
<p>That all changed on Wednesday when <a href="https://deepmind.com/blog">DeepMind announced</a>&nbsp;that Google had found a use for DeepMind’s technology in its <a href="http://www.slate.com/articles/technology/the_efficient_planet/2012/11/data_center_efficiency_why_google_technicians_wear_shorts_and_t_shirts.html">enormous data centers</a>.</p>
<p>Since being acquired by Google, DeepMind’s AI has been used to beat humans at board games and create free apps with the National Health Service. Neither application has helped Google make—or save—any money.</p>
<p>But now Google is using a DeepMind AI system to control the huge air-conditioning units in its power-hungry data centers, where servers consume enough energy to <a href="http://gizmodo.com/5838458/google-uses-more-power-than-salt-lake-city">power entire cities</a>&nbsp;and get very hot in the process.</p>
<p>The AI system does this by predicting how much air conditioning will be needed to deal with an anticipated change in data-center temperature, which fluctuates as demand for services like YouTube, Google Maps, and Gmail rises and falls.</p>
<p>DeepMind says its AI can make the cooling units in Google’s data centers 40 percent more efficient, ultimately cutting the data centers’ overall electricity consumption by 15 percent.</p>
<p>DeepMind’s technology has been deployed across only a handful of Google’s data centers, but Google is planning to introduce the company’s machine-learning software to all 15&nbsp;of its data centers by the end of the year, potentially resulting in massive energy savings on Google’s sizable electricity bill.</p>
<p>DeepMind cofounder Mustafa Suleyman was unable to say how much money Google stood to save on its electricity bill, but the figure could run into tens or even hundreds of millions given the size of Google’s data-center operation. In 2011, Google’s <a href="http://www.itproportal.com/2011/08/02/google-900000-data-centers-001-worldwide-electricity/">data centers reportedly used 0.01 percent of the world's electricity</a>.</p>
<p>But data centers aren’t the only place where DeepMind can have an effect on Google’s bottom line.</p>
<p>The company has also said in the past couple of months that it <a href="https://www.newscientist.com/article/2096328-googles-new-nhs-deal-is-start-of-machine-learning-marketplace/">intends to sell its products and services to healthcare</a>&nbsp;providers like the NHS at some point, providing Google with an additional revenue stream.</p>
<p>All of this adds up to make DeepMind an interesting acquisition that could create significantly more than the $500 million Google paid for the startup.</p>
<p>“DeepMind looks to be an acquisition of YouTube/Android significance for Google,” Chris Lacy, an entrepreneur and software developer, wrote on Twitter, prompting a retweet from one of DeepMind’s employees.</p>
<p>See also: <a href="http://www.businessinsider.com/amazon-credits-refund-apple-settlement-ebooks-2016-6">You may have Amazon credits waiting for you—here’s how to check</a></p>Thu, 21 Jul 2016 17:20:40 GMThttp://www.slate.com/blogs/business_insider/2016/07/21/google_just_found_a_use_for_its_deepmind_acquisition.htmlSam Shead2016-07-21T17:20:40ZBusinessThe Google Lab Whose A.I. Beat the World’s Go Champion Has a New Job: HVAC235160721001Sam SheadBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/07/21/google_just_found_a_use_for_its_deepmind_acquisition.htmlfalsefalsefalseThe Google lab whose A.I. beat the world’s Go champion has a new job: HVAC?We bet Google’s HVAC is smarter than yours.Photo by JEAN-PHILIPPE KSIAZEK/AFP/Getty ImagesHow smart is your HVAC?Why Starbucks Are Suddenly Running Out of Coconut Milkhttp://www.slate.com/blogs/business_insider/2016/07/20/starbucks_coconut_water_runs_dry_customers_despair.html
<p><em>This <a href="http://www.businessinsider.com/starbucks-are-running-out-of-coconut-milk-2016-7">post</a>&nbsp;originally appeared on <a href="http://www.businessinsider.com/">Business Insider.</a></em></p>
<p>Starbucks across the country are running out of coconut milk, thanks to the runaway success of two new beverages.</p>
<p>On July 12, Starbucks launched <a href="http://www.businessinsider.com/starbucks-launches-a-new-coconut-milk-drink-2016-7">the iced coconut milk mocha macchiato,</a>&nbsp;its first-ever beverage with a coconut milk base.</p>
<p>The chain debuted the limited-time offering to highlight its coconut milk, which the company launched in 2015. Customers had already been utilizing the non-dairy option this summer to create “secret menu” beverages, such as the <a href="http://www.businessinsider.com/people-love-starbucks-pink-drink-2016-6">hugely-popular pink drink.</a></p>
<p>Now, it seems that coconut milk may have become&nbsp;a little too popular at the coffee chain.</p>
<p>“Are you out of coconut milk, too?” Reddit user barista 1738 asked in the <a href="https://www.reddit.com/r/starbucks/comments/4tn6op/are_you_out_of_coconut_milk_too/">Starbucks subreddit on Tuesday.</a>&nbsp; “We have been out of coconut milk for the past few days and people are pissssed.”</p>
<p>Looking at social media reveals that the barista is far from alone.</p>
<p>Starbucks' Twitter has been flooded with complaints of locations lacking in coconut milk.</p>
<p>The problem seems to be impacting locations across the U.S.</p>
<p>Some customers are reporting that their local Starbucks locations have been coconut milk-free for days.</p>
<p><a href="https://www.facebook.com/Turtlefan/posts/10208292037712335">Other</a>&nbsp;<a href="https://www.facebook.com/Starbucks/posts/10154324776208057">customers</a>&nbsp;are taking to <a href="https://www.facebook.com/photo.php?fbid=10154263297877332&amp;set=a.10150407493452332.377157.653282331&amp;type=3">Facebook</a>&nbsp;to complain.</p>
<p>“Starbucks&nbsp;why is there no coconut milk in upper Manhattan?” <a href="https://www.facebook.com/jill.margaret.3/posts/10102676260918588">reads one such comment.</a>&nbsp; “I went to three stores they all said none until at least the weekend.”</p>
<p>According to Starbucks, while individual stores may be running low on coconut milk, there is not an issue with the supply chain.</p>
<p>“We’re happy to confirm that Starbucks has a healthy coconut milk supply,” a Starbucks spokesperson told <em>Business Insider</em>. “As you can imagine, our stores may run low on product from time to time, but this is not something we're seeing at our stores across the board.”</p>
<p>On one hand, it’s good news for Starbucks that customers are responding positively to new beverages made with coconut milk, both in the form of iced coconut milk mocha macchiato and the pink drink, which is made with&nbsp;strawberry a&ccedil;a&iacute; refresher and coconut milk.</p>
<p>“Coconut milk is one of those things that our customers were asking for,” Starbucks’ coffee education specialist Mackenzie Karr told Business Insider prior to the launch of the&nbsp;iced coconut milk mocha macchiato. “When we launched last year it was hugely successful. So, the next step seemed—let’s build a beverage around it.”</p>
<p>However, when customer&nbsp;demand exceeds supply, it can create some serious problems for the company.</p>
<p>In May, Starbucks told <em>Business Insider</em>&nbsp;that locations were expected to increase their coconut milk orders prior to the launch of the&nbsp;iced coconut milk mocha macchiato. Clearly, some locations underestimated exactly how many customers would be jumping on the coconut milk bandwagon this summer, and are now coming up short—and, in the process, enraging customers attempting to try a new, limited-time offering or flaunt&nbsp;a pink drink on Instagram.</p>
<p><em>See also: <a href="http://www.businessinsider.com/amazon-prime-shipping-making-items-more-expensive-2016-7">Prime Shipping May Be Making Amazon Items More Expensive</a></em></p>Wed, 20 Jul 2016 21:14:09 GMThttp://www.slate.com/blogs/business_insider/2016/07/20/starbucks_coconut_water_runs_dry_customers_despair.htmlKate Taylor2016-07-20T21:14:09ZBusinessWhy Starbucks Are Suddenly Running Out of Coconut Milk235160720001starbuckscoffeeKate TaylorBusiness InsiderBusiness Insiderhttp://www.slate.com/blogs/business_insider/2016/07/20/starbucks_coconut_water_runs_dry_customers_despair.htmlfalsefalsefalseWhy Starbucks are suddenly running out of coconut milkNuts!Photo by Spencer Platt/Getty ImagesA Starbucks cup on November 12, 2015 in New York City.